Six Flags seeks $750 million credit facility

Posted Tuesday, June 16, 2009 5:07 PM | Contributed by Jeff

Six Flags Inc. is seeking a $750 million credit facility as part of a reorganization plan under bankruptcy protection. The new capital structure would include a $600 million term loan and a $150 million revolving credit line, as well as new common stock and options, the New York-based company said today in a regulatory filing.

Read more from Bloomberg.

Tuesday, June 16, 2009 6:47 PM
Carrie M.'s avatar

Well, I'll admit, that article was a bit over my head. :)


"If passion drives you, let reason hold the reins." --- Benjamin Franklin

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Tuesday, June 16, 2009 7:15 PM

Yeah, all this business financial stuff is like a foreign language to me.


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Tuesday, June 16, 2009 8:48 PM
Jeff's avatar

I'm not entirely sure why Bloomberg thought this was important enough for its own news item, since I think it's generally accepted that any business needs access to credit, at the very least the revolving kind, to conduct itself.


Jeff - Webmaster/Editor - CoasterBuzz.com - My Blog - Twitter - Video

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Wednesday, June 17, 2009 7:03 PM

Jeff said:
I'm not entirely sure why Bloomberg thought this was important enough for its own news item, since I think it's generally accepted that any business needs access to credit, at the very least the revolving kind, to conduct itself.

These types of stories are common fodder as filler in the business journal trade for several reasons:

1) It highlights which banks are lending as part of the DIP (debtor in possession) process.

Consider this a press release by the bank(s) involved in the funding. For them this is a piece of new business worth promoting with a press release. This would be similar to a trade industry magazine reporting that Jim Bob's fun park had just purchased 15 new whack-a-toad games.

2) it's a continuation of the prior story regarding Six Flags having filed bankruptcy. While this probably doesn't rate as news in paper that isn't served by a Six Flags park, it is relevant to the business community (as they got shtupped for $2B.

Peruse the Wall Street Journal (and bloomberg, or CNBC.com) and you will see numerous articles like this on various companies. Expect to see more as certain milestones are met as Six Flags progresses through the bankruptcy process.

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