Cedar Fair today announced its intention, subject to market conditions, to raise up to $250 million in a public offering of its limited partnership interests. The Partnership intends to use the proceeds of the offering to repay a portion of the term loan debt that it expects to incur to finance the previously announced acquisition of the Paramount Parks from CBS Corporation. The Partnership believes the offering, if completed, will allow it to reduce its overall leverage and achieve an economical total cost of capital. The Partnership anticipates that the offering will be completed within the next six months.
Read the press release from Cedar Fair.