SeaWorld intends to sell $750 million five-year secured notes; initial talk 6 3/8%-6½% area

By Paul A. Harris

Portland, Ore., Aug. 1 – SeaWorld Parks and Entertainment Inc. plans to sell $750 million of five-year senior secured notes, according to market sources.

Initial guidance is in the 6 3/8% to 6½% area.

The notes come alongside a $665 million term loan B due 2028 (Ba2/BB) via lead arranger JPMorgan, which was scheduled to launch on a Tuesday morning lender call with commitments due Thursday.

The Orlando, Fla.-based theme park and entertainment company plans to use the proceeds to refinance its $1.182 billion term loan B due 2028 and $228 million of senior secured notes due 2025.

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