secwatch.observer — SEC 8-K summary
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Issuer:     Six Flags Entertainment Corp/OLD (—)
CIK:        0000701374
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001104659-23-056058
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Six Flags issues $800M 7.25% notes due 2031, extends revolver to $500M, repurchases 92.85% of 2024 notes
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- Issued $800M aggregate principal of 7.250% Senior Notes due May 15, 2031; proceeds to repurchase 2024 notes.
- Revolving credit facility upsized from $350M to $500M, maturity extended to May 2028; LIBOR replaced with Term SOFR.
- Tender offer expired with $881.6M (92.85%) of 4.875% notes due 2024 validly tendered; purchased at $1,000.50 per $1,000 principal plus accrued interest.
- New covenant: maximum senior secured leverage ratio steps down from 4.50x to 3.75x by Sept 2024.
- Notes are senior unsecured, guaranteed by certain subsidiaries, rank effectively junior to secured debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/701374/000110465923056058/0001104659-23-056058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/701374/000110465923056058/tm238950d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-056058

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