Seas taking on more debt

[Jahrules]

UPDATE: SeaWorld to offer $227.5 million of senior secured notes in private deal

SeaWorld Entertainment Inc.

www.marketwatch.com

 

[Jahrules]

This is actually really smart of seas. They didn't go to the open market for these bonds so they don't have to pay the market interest rate.

I'm suspecting hillpath backed this.

 

[GrandpaD]

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[rswashdc]

The issuance is a private deal outside the US. It's possible that these were below market rate, though they may have warrants or being convertible in that case.

 

[Zachary]

That Orlando Sentinel article @GrandpaD posted sounds really reassuring!

 

[MAZ]

Well.....everyone can breathe a sigh of relief now. ?

 

[Jahrules]

I didn't get to listen to the call, but pulled this from their quarterly statement:

On April 30, 2020, the Company closed on a $227.5 million private offering of 8.75% first-priority senior secured notes.