Six Flags to redeem some 9¾% notes with new-deal proceeds

New York, Dec. 2 - Six Flags, Inc. (B2/B-) said it will use proceeds from a planned offering of $300 million senior notes to redeem part of its 9¾% senior notes due 2007 - and high-yield syndicate sources said later in the day that the company had sold an upsized $325 million offering of new 9 5/8% senior notes due 2014)..

Six Flags, a New York-based operator of theme parks and amusement parks, intends to call $280 million principal amount of the notes out of the $422.6 million currently outstanding for redemption immediately following the closing of the offering of new notes. The actual redemption will follow 30 days later.

Six Flags issued $430 million of the 9¾% notes in June 1999.

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