The Firm represented Cedar Fair, L.P. (“Cedar Fair”) in connection with a Rule 144A/Regulation S offering of $500 million aggregate principal amount of 5.25% senior unsecured notes due 2029 (the “Notes”) issued by Cedar Fair, Magnum Management Corporation, Millennium Operations LLC and Canada’s Wonderland Company, as co-issuers (“Co-Issuers”). Obligations under the Notes are guaranteed by Cedar Fair’s wholly owned subsidiaries that guarantee its senior secured credit facilities (other than the Co-Issuers).
Cedar Fair intends to use the net proceeds from the offering of the Notes for the proposed acquisition of the Schlitterbahn Waterparks and Resort, 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, for general corporate purposes and repayment of a portion of the Company’s senior secured revolving credit facility.
Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. 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.
The Simpson Thacher team for the transaction included Risë Norman and Matthew Levy (Capital Markets); Brian Gluck (Banking and Credit); Abigail Hopper (Tax); Timothy Mulvihill (Environmental); Jeanne Annarumma and Caitlin Grimes (Executive Compensation and Employee Benefits); Steven DeLott (Insurance); Elizabeth Gladstone (Intellectual Property); and Krista McManus (Real Estate).