Great Wolf to refinance 10 7/8% notes due 2017 via facility proceeds

By Tali David

Minneapolis, July 17 - Great Wolf Resorts, Inc. plans to refinance all of the outstanding 10 7/8% first mortgage notes due 2017 issued by GWR Operating Partnership, LLLP and Great Wolf Finance Corp. with the proceeds of a new senior credit facility, according to an 8-K filed with the Securities and Exchange Commission.

The company will also refinance the outstanding indebtedness under the existing senior secured credit facility of Great Wolf Lodge of the Carolinas, LLC. Any remaining net proceeds are expected to be used for general corporate purposes.

Great Wolf owns and operates drive-to destination family resorts. It is based in Madison, Wis.

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