Cedar Fair proposes terms for financing Paramount Parks acquisition

Posted | Contributed by Jeff

Cedar Fair wants a six-year term loan of about $1.75 billion and $350 million in revolving credit, both with interest proposed at 1.75 to 2 percentage points over the London interbank offered rate, said the person, who declined to be identified because the terms haven't been made public.

Read more from The Toledo Blade.

So, like, what's the other $500M for? PP sold for 1.24B.

gator, PRAYING it isn't going for Morgan hypers, LOL.

Refinancing of their existing corporate debt...

Nah, it's to buy Magic Mountain.

maybe they can do like Washington did years back, and say it is for new toilet seat's for the newely aquired parks.

1ej

Where's the extra $500 million going? CF has a big shopping list, not just for parks. They are going to have to invest a lot of money to either buy Paramount movie rights, or re-design theme all the to eliminate the movie references. And these are huge, major parks -- they're not just going to slap stickers on Italian Job, Top Gun and Tomb Raider attractions like they did at Geauga Lake.
*** This post was edited by greatwhitenorth 6/27/2006 2:28:42 PM ***

...it's been reported in a few articles (and I believe even mentioned in the conference call) that they're rolling their existing corporate debt (roughly $540M) into this new financing arrangement. That's the "extra" $500M.

http://finance.yahoo.com/q/ks?s=FUN*** This post was edited by JZarley 6/27/2006 3:26:00 PM ***

I'm hoping that a ton of re-theming does, in fact, get done. Having spent a large chunk of my childhood at King's Dominion, the Paramountification of that place kind of ruined the whole park for me. I haven't visited in years, but the thought of having CF running things gives me some hope.

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