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BCYIF Ishares PLC (PK)

10.4293
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
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

Six Flags Launches $830 Million Bankruptcy Exit Financing-Source

07/01/2010 3:28pm

Dow Jones News


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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

 
 

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