SANDUSKY, Ohio–(BUSINESS WIRE)–Cedar Fair, L.P. (NYSE: FUN) (the “Company” or “Cedar Fair”) today
announced that it, together with its wholly owned subsidiaries Magnum
Management Corporation (“Magnum”), Canada’s Wonderland Company (“Cedar
Canada”) and Millennium Operations LLC (“Millennium” and, together with
Magnum and Cedar Canada, the “Co-Issuers”), has priced its previously
announced private offering of $500 million aggregate principal amount of
5.250% senior unsecured notes due 2029 (the “Notes”). The Notes were
priced at 100% of the aggregate principal amount. Obligations under the
Notes will be guaranteed by the Company’s wholly owned subsidiaries that
guarantee its senior secured credit facilities (other than the
Co-Issuers).
The Company intends to use the net proceeds of the offering for the
proposed acquisition of Schlitterbahn Waterpark and Resort New Braunfels
and Schlitterbahn Waterpark Galveston, the purchase of the land upon
which California’s Great America amusement park is located, the payment
of fees and expenses related to those transactions and the offering and
for general corporate purposes and repayment of a portion of the
Company’s senior secured revolving credit facility. Completion of the
offering is subject to standard closing conditions.
The Notes are being offered only to persons reasonably believed to be
qualified institutional buyers under Rule 144A of the Securities Act of
1933, as amended (the “Securities Act”), and to certain non-U.S. persons
in transactions outside the United States under Regulation S of the
Securities Act. The initial issuance and sale of the Notes will not be
registered under the Securities Act and the Notes may not be offered or
sold in the United States absent registration or an applicable exemption
from the registration requirements of the Securities Act and other
applicable securities laws.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
Notes, in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Cedar Fair
Cedar Fair (NYSE: FUN), one of the largest regional amusement-resort
operators in the world, is a publicly traded partnership headquartered
in Sandusky, Ohio. Focused on its mission to make people happy by
providing fun, immersive and memorable experiences, the Company owns and
operates 11 amusement parks, including its flagship park, Cedar Point,
along with two outdoor water parks, one indoor water park and four
hotels. It also operates an additional theme park under a management
contract. Its parks are located in Ohio, California, North Carolina,
South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan
and Toronto, Ontario.
Forward-Looking Statements
Some of the statements contained in this news release constitute
“forward-looking statements” within the meaning of the safe harbor
provisions of the United States Private Securities Litigation Reform Act
of 1995, including statements as to the Company’s expectations, beliefs
and strategies regarding the future. You can identify forward-looking
statements because they contain words such as “believes,” “project,”
“might,” “expects,” “could,” “propose,” “would,” “may,” “will,”
“should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” or
“anticipates” or similar expressions that concern our strategy, plans or
intentions. These forward-looking statements are subject to risks and
uncertainties that may change at any time and, therefore, our actual
results may differ materially from those that we expected. While we
believe that the expectations reflected in such forward-looking
statements are reasonable, we caution that it is very difficult to
predict the impact of known factors, and it is impossible for us to
anticipate all factors that could affect our actual results. Important
factors that could cause actual results to differ materially from our
expectations are disclosed in our Annual Report on Form 10-K for the
year ended December 31, 2018, and in the filings of the Company made
from time to time with the SEC. We undertake no obligation to publicly
update or revise any forward-looking statement as a result of new
information, future events or otherwise, except as otherwise required by
law.
Contacts
Investor Relations
Michael Russell, 419.627.2233
