SeaWorld Parks & Entertainment is planning to refinance its $1.5 billion debt it took in late 2009, Orlando Sentinel reports. The refinancing comprises a $1.05 billion credit facility backed by Florida-based theme-park operator’s assets and does not include $400 million worth of unsecured debt that the company is also carrying.
Bank of America has been appointed as the lead lender on the transaction. The term on the main portion of SeaWorld’s debt will be extended by a year from its current June 2016 maturity date. SeaWorld will also continue to access an untapped $140 million revolving loan.
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