Six Flags to obtain $1.050 billion credit facility

By Sara Rosenberg

New York, May 20 - Six Flags Inc. is scheduled to hold a bank meeting in early June regarding a new $1.050 billion credit facility, according to a syndicate source. Lehman Brothers is the lead bank on the deal.

The loan is expected to consist of a $600 million seven-year term B, a $300 million six-year working capital revolver and a $150 million six-year multi-currency revolver. Interest rates are still under discussion, the syndicate source said.

The Oklahoma City, Okla. theme park operator will use the new credit facility to refinance existing debt. Basically all assets of the company are being used to secure the loan.

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