New Issue: Six Flags prices $195 million add-on to 9 5/8% notes to yield 9.704%

By Paul A. Harris

St. Louis, Jan. 6 - Six Flags Inc. priced a $195 million add-on to its 9 5/8% senior notes due June 1, 2014 (Caa1/CCC) at 99.50 on Thursday, resulting in a yield of 9.704%, according to a syndicate source.

Price talk was 99.25 to 100.

Lehman Brothers ran the books for the Rule 144A/Regulation S add-on. The co-managers were Bear Stearns & Co., Banc of America Securities LLC, BNY Securities, Calyon Securities and Allen & Co.

Proceeds from the add-on will be used to redeem the company's outstanding 9½% senior notes due 2009.

The company originally sold $325 million of the 9 5/8% notes due 2014 at par on Dec. 2, 2003 in an issue that was upsized from $300 million. The total issue size now stands at $520 million.

The issuer is an Oklahoma City-based theme park company with 39 parks throughout North America and Europe.

Issuer:	Six Flags Inc.
Amount:	$195 million
Maturity:	June 1, 2014
Security description:	Add-on to the 9 5/8% senior notes
Bookrunner:	Lehman Brothers
Co-managers:	Bear Stearns & Co., Banc of America Securities LLC, BNY Securities, Calyon Securities, Allen & Co.
Coupon:	9 5/8%
Price:	99.50
Yield to worst:	9.704%
Spread:	546 basis points
Call features:	Callable after June 1, 2009 at 104.813, 103.208, 101.604, par on and after June 1, 2012
Equity clawback:	Until June 1, 2007 for up to 35% at 109.625
Pricing date:	Jan. 6
Settlement date:	Jan. 18, with accrued interest
Ratings:	Moody's: Caa1
	Standard & Poor's: CCC
Price talk:	99.25-100

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