Wells Fargo agented a reduction in Six Flags Entertainment’s borrowing rate on its $545 million term loan B credit facility.

According to a related filing, Wells Fargo Bank served as administrative agent for the lender group.

The overall borrowing rate was reduced by one-quarter of one percent, moving from a rate of  LIBOR+2.50% to a rate of LIBOR+2.25%, with the elimination of the minimum LIBOR rate requirement. Excluding the cost to execute the transaction, the lower borrowing rate will save the company approximately $1.4 million annually in interest costs.

Six Flags Entertainment is the world’s largest regional theme park company with $1.3 billion in revenue and 18 parks across the U.S., Mexico and Canada.