The latest update is out from United Parks & Resorts (PRKS).
United Parks & Resorts Inc. is moving forward with a plan to reprice its Term B loan facility, announcing a new term loan of $230 million to fund the redemption of its high-interest 2025 Secured Notes. The move, dependent on market conditions, aims to alleviate debt costs by redeeming the remaining $227.5 million of the 8.750% notes in May 2024, provided they secure the necessary financing. This strategic financial maneuver is designed to improve the company’s balance sheet and is not an offer to sell securities.
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