Premier Parks Sells Bonds to Finance Six Flags Deal
NEW YORK (Bloomberg) -- Premier Parks and Six Flags Entertainment have sold $700 million of bonds in three parts, with interest rates set at about the levels investors expected.
Oklahoma City-based Premier's bonds due in 2006 sold with a yield of 9.25 percent while a 10-year issue of zero coupon bonds sold at 10 percent. Six Flags' bonds due in 2006, which are guaranteed by Premier, sold at 8.875 percent.
Funds from the sale will be used to help finance Premier's $1.9 billion purchase of the Six Flags entertainment parks in Georgia and Texas and buy licensing rights to Bugs Bunny and other cartoon characters. The bonds carry junk ratings, though some investors …
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Publication information: Article title: Premier Parks Sells Bonds to Finance Six Flags Deal. Contributors: Not available. Newspaper title: THE JOURNAL RECORD. Publication date: March 3, 1998. Page number: Not available. © 2009 THE JOURNAL RECORD. Provided by ProQuest LLC. All Rights Reserved.
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