Six Flags launches $544.75 million term loan B at Libor plus 175 bps

By Sara Rosenberg

New York, March 15 – Six Flags Theme Parks Inc. was scheduled to hold a lender call at 2:30 p.m. ET on Thursday to launch a $544.75 million term loan B due June 30, 2022 that is talked at Libor plus 175 basis points with a 0% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Covenants include maximum senior secured leverage, minimum interest coverage and maximum capex.

Wells Fargo Securities LLC is the lead arranger on the deal.

Commitments are due at noon ET on Wednesday, the source added.

Proceeds will be used to reprice an existing term loan B down from Libor plus 200 bps with a 0% Libor floor.

Expected term loan ratings are Ba1/BBB-.

Six Flags is a Grand Prairie, Texas-based regional theme park company.

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