SeaWorld Postpones Planned Loan Refinancing Amid Market Turmoil
- Theme park operator was seeking to cut loan costs, extend term
- SBA Communications’ $2.3 billion deal was earlier postponed
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SeaWorld Parks & Entertainment Inc. has postponed its planned refinancing of a $1.55 billion term loan, the second in the US leveraged loan market Monday, as volatility disrupts markets globally.
JPMorgan Chase & Co. was leading the deal, which launched on July 29. The theme-park operator was seeking to extend a loan due in 2028 by three years and potentially lower the margin from 250 basis points to 200 basis points.