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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ishares PLC (PK) | USOTC:BCYIF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.4293 | 10.4293 | 10.4293 | 0.00 | 01:00:00 |
JPMorgan Chase & Co., Bank Of America Merrill Lynch, Barclays Capital and Deutsche Bank have launched $830 million of new loans supporting New York-based Six Flags Theme Parks' exit from bankruptcy, according to one person familiar with the situation.
The financing is split between a $680 million, six-year term loan and a $150 million, five-year revolving credit facility.
Both the term loan and the revolving credit facility pay an interest rate of 4.25% over the London interbank offered rate, or Libor, with the Libor floor set at 2%. This means that under no circumstances will the lenders earn less than 6.25% annual interest. Both the term loan and the revolver will be offered at a discount to par value. The discount is still to be decided, according to the person.
The theme park operator filed for bankruptcy last June in a deal handing a 92% ownership stake in the company to its banks in exchange for canceling $1.1 billion of debt.
-By Kate Haywood, Dow Jones Newswires; 212-416-2218; kate.haywood@dowjones.com
1 Year Ishares (PK) Chart |
1 Month Ishares (PK) Chart |
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