United Parks & Resorts launches $230M term loan to redeem $227.5M of 8.75% Senior Secured Notes due 2025

United Parks & Resorts Inc.

Company launched a $230M fungible incremental term loan facility to finance redemption of 2025 Secured Notes; amendment subject to market conditions.
SeaWorld Parks & Entertainment issued conditional redemption notice for $227.5M of 8.75% First-Priority Senior Secured Notes due 2025.
Redemption set for May 2, 2024 at 100% of principal plus accrued interest, conditional on completion of financing.
Refinancing replaces high-coupon 8.75% debt, likely reducing annual interest expense.

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