According to an 8K filed with the SEC, JPMorgan Chase Bank is serving as administrative agent, collateral agent, issuing bank and swingline lender for SeaWorld Parks & Entertainment’s restated credit agreement, which provides for $1.2 billion in term loans and $385 million in revolving commitments. In addition, SeaWorld Parks & Entertainment closed a private offering of $725 million aggregate principal amount of 5.25% senior notes due 2029.
SeaWorld Parks & Entertainment, which is a wholly-owned subsidiary of SeaWorld Entertainment, used the proceeds from the new term loans and the issuance of the notes, together with cash on hand, to redeem $450 million aggregate principal amount of outstanding 9.5% second-priority senior secured notes due 2025, to refinance its existing term loan facility and its existing revolving credit facility and to pay related expenses of the offering and refinancing.
