Cedar Fair, L.P. has announced that it, together with its wholly owned subsidiaries Magnum Management Corporation, Canada’s Wonderland Company, and Millennium Operations LLC, intends to commence a private offering of $500 million aggregate principal amount of senior unsecured notes due 2029. Obligations under the Notes will be guaranteed by the Company’s wholly owned subsidiaries that guarantee its senior secured credit facilities (other than the Co-Issuers).
The Company intends to use the net proceeds of the offering for the proposed acquisition of Schlitterbahn Waterpark and Resort New Braunfels and Schlitterbahn Waterpark Galveston, the purchase of the land upon which California’s Great America amusement park is located, the payment of fees and expenses related to those transactions and the offering and for general corporate purposes and repayment of a portion of the Company’s senior secured revolving credit facility. Completion of the offering is subject to, among other things, pricing and market conditions.