Six Flags seeks to amend $830 million of credit pacts

Six Flags Inc., the theme-park owner that filed for bankruptcy in June, is seeking to amend the terms of its $830 million of credit agreements.

Six Flags is looking to increase the size of its six-year term loan to $770 million from $730 million and its five-year revolving loan to $120 million from $100 million, the New York- based company said yesterday in a regulatory filing.

The interest rate on the term loan would increase to 4 percentage points more than the London interbank offered rate from 3.75 percentage points more, according to the filing. The amended loan will be offered at between 98.5 cents on the dollar and 99 cents and has a 2 percent Libor floor.

The pricing won't change on the revolver, according to the filing. The interest rate on the revolver was set at 4.25 percentage points more than Libor, with a 2 percent Libor floor, and a 1.5 percent fee if the credit line isn't used.

Libor is the rate banks charge to lend to each other.