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SIX > SEC Filings for SIX > Form 8-K on 23-Dec-2013All Recent SEC Filings

Show all filings for SIX FLAGS ENTERTAINMENT CORP | Request a Trial to NEW EDGAR Online Pro



Other Events, Financial Statements and Exhibits

Item 8.01 Other Events.

On December 23, 2013, Six Flags Entertainment Corporation (the "Company") announced that its bank lenders have approved a reduction to the Company's borrowing rates and also approved the Company's ability to use up to $200 million of its excess cash on hand, over time, for general corporate purposes, including potential share repurchases.

The overall borrowing rate was reduced by one-half of one percent, moving from a rate of 3.00 percent plus LIBOR to a rate of 2.75 percent plus LIBOR, with the minimum LIBOR rate dropping from 1.00 percent to 0.75 percent. Excluding the cost to execute the transaction, the lower borrowing rate will save the Company approximately $3 million annually in interest costs assuming current market rates.
A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release dated December 23, 2013

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