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Cedar Fair to offer US$500 worth of notes
Cedar Fair, the Ohio-based amusement park company, has announced that it intends to offer US$500m worth of senior unsecured notes.
The offering is part of the firm's overall refinancing plan, which will also see Cedar Fair launching the syndication of senior secured credit facilities.
The company intends to use net proceeds to repay in full outstanding amounts under its existing credit facilities.
Cedar Fair - which owns 11 amusement parks, six outdoor waterparks, one indoor waterpark and five hotels - reported a first quarter loss of US$39.9m, compared with a loss of US$53.3m last year.