CEDAR FAIR, L.P. (NYSE:FUN) Files An 8-K Entry into a Material Definitive Agreement

CEDAR FAIR, L.P. (NYSE:FUN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

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Amendment No.1 to Amended and Restated Credit Agreement

On March14, 2018, Cedar Fair, L.P. (“Cedar Fair” or the “Borrower”) entered into Amendment No.1 (the “Amendment Agreement”) to the amended and restated credit agreement dated as of April13, 2017 among the Borrower, Magnum Management Corporation (“Magnum”), Canada’s Wonderland Company (“Cedar Canada”) and Millennium Operations LLC (“Millennium”, and, collectively with Cedar Fair, Magnum and Cedar Canada, the “Borrowers”), the lenders from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the other parties thereto (as amended, restated, modified and supplemented from time to time, the “Credit Agreement”).

The Amendment Agreement amended the Credit Agreement to, among other things, in respect of the U.S. term B loans thereunder (the “Repriced Term Loans”), (i) reduce the applicable margin on base rate borrowings from 1.25% to 0.75% and (ii)reduce the applicable margin on eurodollar borrowings from 2.25% to 1.75%. All other material terms and provisions of the Repriced Term Loans remain substantially the same as the terms and provisions in place for the existing U.S. term B loans immediately prior to the effectiveness of the Amendment Agreement.

In addition, in the event that, within six months of the effective date of the Amendment Agreement, the Repriced Term Loans are amended to reduce the interest rate applicable thereto or are refinanced with the proceeds of term loans with a lower yield than that applicable to the Repriced Term Loans, such prepayment or amendment shall be accompanied by a premium equal to 1% of the principal amount of Repriced Term Loans subject to such repricing transaction. Thereafter, the Borrower will be permitted to prepay any of the Repriced Term Loans at any time without penalty or premium (subject to LIBOR redeployment costs).

The foregoing summary is qualified in its entirety by reference to the Amendment Agreement (and the Credit Agreement attached as an exhibit thereto), a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

Certain Relationships

The financial institutions party to the Amendment Agreement and the Credit Agreement and their respective affiliates perform various financial advisory, investment banking and commercial banking services from time to time for Cedar Fair and its affiliates, for which they receive customary fees.

On March14, 2018, Cedar Fair issued a press release announcing the entry into the Amendment Agreement and the repricing of its U.S. term B loans. Cedar Fair hereby incorporates by reference the information in its press release, dated March14, 2018, a copy of which is attached hereto as Exhibit99.1.

Item 1.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1

Amendment No.1, dated March 14, 2018, among Cedar Fair, L.P., Magnum Management Corporation, Canada’s Wonderland Company and Millennium Operations LLC, as borrowers, the several lenders from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent and the other parties thereto.

99.1 Text of press release issued by Cedar Fair, L.P. on March14, 2018, announcing the entry into Amendment No.1 and the repricing of its U.S. term B loans.


CEDAR FAIR L P Exhibit
EX-10.1 2 d550619dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 EXECUTION VERSION AMENDMENT No. 1,…
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About CEDAR FAIR, L.P. (NYSE:FUN)

Cedar Fair, L.P. is an operator of regional amusement parks. The Company owns approximately 10 amusement parks, three outdoor water parks, an indoor water park and five hotels. The Company operates through amusement/water parks with accompanying resort facilities segment. Its amusement parks include Cedar Point, located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Kings Island near Cincinnati, Ohio; Canada’s Wonderland near Toronto, Canada; Dorney Park & Wildwater Kingdom (Dorney Park), located near Allentown in South Whitehall Township, Pennsylvania; Valleyfair, located near Minneapolis/St. Paul in Shakopee, Minnesota; Michigan’s Adventure located near Muskegon, Michigan; Kings Dominion near Richmond, Virginia; Carowinds in Charlotte, North Carolina; Worlds of Fun located in Kansas City, Missouri; Knott’s Berry Farm, located near Los Angeles in Buena Park, California, and California’s Great America (Great America) located in Santa Clara, California.

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