Cedar Fair to issue $500 million in senior unsecured notes

Posted | Contributed by Jeff

[Ed. note: The following is an excerpt of a press release. -J]

Cedar Fair, L.P. (NYSE: FUN) (the "Company" or "Cedar Fair") today announced that it, together with its wholly owned subsidiaries Magnum Management Corporation ("Magnum") and Canada's Wonderland Company (together with Magnum, the "Co-Issuers"), intends to commence a private offering of $500 million aggregate principal amount of senior unsecured notes due 2021 (the "Notes"). Obligations under the Notes will be guaranteed by the Company's wholly-owned subsidiaries (other than the Co-Issuers). The Company intends to use the net proceeds of the offering, together with borrowings under its new senior secured credit facilities and cash on hand, to repay in full all amounts outstanding under its existing bank credit facilities. Completion of the offering is subject to, among other things, pricing and market conditions.

Read the entire press release from Cedar Fair.

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