Six Flags calls some 9¾% notes for redemption

New York, Dec. 5 - Six Flags, Inc. (B2/B-) said that it has called for redemption $301.5 million principal amount of its outstanding 9¾% senior notes due 2007 under the terms of the notes' indenture. It said the redemption would take place on Jan. 5 at a price of 104.875% of the principal amount plus accrued interest.

The call follows the company's announcement that it had officially closed its recent offering of $325 million 9 5/8% senior notes due 2014

As previously announced, Six Flags, a New York-based operator of theme parks and amusement parks, said on Dec. 2 that it would sell $300 million of new senior notes and use the proceeds to redeem part of the company's 9¾% senior notes due 2007. High yield syndicate sources said later that day that the company had sold an upsized $325 million offering of new 9 5/8% senior notes due 2014.

Six Flags said it intends to call $280 million principal amount of the 9¾% notes out of the $422.6 million currently outstanding for redemption immediately following the closing of the offering of its new senior notes.

Six Flags issued $430 million of the 9¾% notes in June 1999.

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