Cedar Fair Commences Offering of $500 Million Senior Unsecured Notes

Offering will be $500 million aggregate principal amount of senior unsecured notes due 2020 in a private placement, subject to market and other conditions.

Thursday, 20 May 2010

Cedar Fair Press Release

SANDUSKY, OHIO, May 20, 2010 –  Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced its intention to offer its initial issuance of senior unsecured notes. The offering will be $500 million aggregate principal amount of senior unsecured notes due 2020 (the “Notes”) in a private placement, subject to market and other conditions. The Notes will be guaranteed by Cedar Fair’s wholly-owned subsidiaries.
 
As part of its overall refinancing plan, the Company is also launching the syndication of new senior secured credit facilities. The Company intends to use the net proceeds from the offering of the Notes, along with the new senior secured credit facilities, to repay in full all amounts outstanding under its existing credit facilities.
 
The Notes will be offered only to 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.