Simpson Thacher Represents Palace Entertainment in Issuance of High-Yield Notes and Entry into Super-Priority Revolving Credit Facility
03.04.11
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Simpson Thacher represented Palace Entertainment Holdings, LLC and Palace Entertainment Holdings Corporation as co-issuers, in connection with their issuance and sale of $430 million aggregate principal amount of 8-7/8% Senior Secured Notes due 2017 and the completion of a super-priority first lien senior secured $120 million revolving credit facility. Palace Entertainment used the gross proceeds from the notes offering, together with equity contributions from shareholders, to repay outstanding indebtedness.
Palace Entertainment is one of the leading leisure park operators in the United States, providing family oriented and affordable attractions to visitors of all ages. Palace Entertainment is indirectly controlled by affiliates of Candover Partners Ltd. and OB Partnership.
The Simpson Thacher team included, among others, Nicholas Shaw, Bart Gombert, Jason Ewart and Kristyn Greene (Capital Markets); Marissa Wesely, Jean Chen, Kristin Marvin and David Eshmoili (Credit); Erik Hepler and Jonathan Pall (Collateral); Mardi Merjian (Real Estate); Katherine Gardner and Parijat Sharma (Intellectual Property); Jamin Koslowe and Susan Kaufman (Executive Compensation & Employee Benefits), Tim Mulvihill (Environmental) and Noah Beck and Seojung Park (Tax). Paralegals Alan Stein and Ingrid Vidal also provided valuable support.