Cedar Fair proposes terms for financing Paramount Parks acquisition

Posted Tuesday, June 27, 2006 10:11 AM | 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.

Tuesday, June 27, 2006 12:00 PM
So, like, what's the other $500M for? PP sold for 1.24B.

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

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Tuesday, June 27, 2006 12:24 PM
Refinancing of their existing corporate debt...
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Tuesday, June 27, 2006 1:02 PM
Nah, it's to buy Magic Mountain.
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Tuesday, June 27, 2006 1:35 PM
maybe they can do like Washington did years back, and say it is for new toilet seat's for the newely aquired parks.

1ej

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Tuesday, June 27, 2006 2:28 PM
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 ***
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Tuesday, June 27, 2006 3:24 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 ***

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Wednesday, June 28, 2006 11:41 AM
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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