SeaWorld launches $825 million debt offering

SeaWorld Entertainment Inc. said Thursday that its SeaWorld Parks & Entertainment Inc. subsidiary has launched a private offering of $825 million of senior notes due 2029. The theme park operator plans to use the proceeds from the debt offering to help paydown $450 million of 9.500% notes due 2025 and to refinance its term loan and revolving credit facilities. The pricing of the notes has not yet been determined. SeaWorld's stock, which slipped 0.6% in premarket trading, has run up 67.5% year to date through Wednesday, while the S&P 500 has advanced 18.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

SeaWorld launches $825 million debt offering
SeaWorld Entertainment Inc. said Thursday that its SeaWorld Parks & Entertainment Inc. subsidiary has launched a private offering of $825 million of senior notes due 2029. The theme park operator plans to use the proceeds from the debt offering to help paydown $450 million of 9.500% notes due 2025 and to refinance its term loan and revolving credit facilities. The pricing of the notes has not yet been determined. SeaWorld's stock, which slipped 0.6% in premarket trading, has run up 67.5% year to date through Wednesday, while the S&P 500 has advanced 18.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.