The Interpreter Posted November 23, 2011 Share Posted November 23, 2011 http://www.businessweek.com/news/2011-11-23/six-flags-seeks-1-15-billion-in-loans-to-refinance-debt.html Quote Link to comment Share on other sites More sharing options...
HTCO Posted November 23, 2011 Share Posted November 23, 2011 Wow. I don't know much about finances, but I'm pretty sure this is a dumb idea. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted November 23, 2011 Author Share Posted November 23, 2011 Actually, no. Six will get a much lower interest rate and thus have to pay back far less money. In addition, the covenants demanded by the lenders will be far less restrictive. Standard and Poors has already put the company on watch for possible positive upgrade. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted November 29, 2011 Author Share Posted November 29, 2011 As predicted by many, Moody's has raised its rating outlook for SIX to positive, based largely on the refi: http://m.cnbc.com/us_news/45468805 Quote Link to comment Share on other sites More sharing options...
KIBeast Posted December 2, 2011 Share Posted December 2, 2011 That's pretty awesome for this chain. Wonder if CF could do anything like this? Might help with their outlook. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted December 2, 2011 Author Share Posted December 2, 2011 Cedar Fair refinanced earlier. The rate SIX is now trying to get is about the same as FUN's current rate. Quote Link to comment Share on other sites More sharing options...
KIBeast Posted December 9, 2011 Share Posted December 9, 2011 Thank you for the clarification. Can't hardly keep up any more. Got a nearly 3 year old to contend with. Lots of fun! The magic of Christmas is back for me! Sorry for the off-topic comments. 1 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted December 20, 2011 Author Share Posted December 20, 2011 Completed. Projected savings of $13 million per year, plus far less restrictive covenants: http://investors.sixflags.com/phoenix.zhtml?c=61629&p=irol-newsArticle&ID=1641497&highlight= Quote Link to comment Share on other sites More sharing options...
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