SeaWorld (SEAS) has released an update to notify the public and investors about an entry into a material definitive agreement.
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SeaWorld Parks & Entertainment, Inc. amended its first lien term loan facility to refinance existing Term B Loans with approximately $1.173 million in new Term B-2 Loans, which are subject to the same covenants and events of default as the original loans. The new loans have variable interest rates with minimum thresholds and a maturity date of August 25, 2028, requiring quarterly amortization payments of 0.25% of the principal. Lenders involved may also provide other customary financial services to the company.
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