SeaWorld Entertainment Inc. (SEAS) said Thursday that its SeaWorld Parks & Entertainment Inc. subsidiary has launched a private offering of $825 million of senior notes due 2029. The theme park operator plans to use the proceeds from the debt offering to help paydown $450 million of 9.500% notes due 2025 and to refinance its term loan and revolving credit facilities. The pricing of the notes has not yet been determined. SeaWorld's stock, which slipped 0.6% in premarket trading, has run up 67.5% year to date through Wednesday, while the S&P 500 has advanced 18.4%.
(END) Dow Jones Newswires
August 12, 2021 07:54 ET (11:54 GMT)
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