This excerpt taken from the FUN 8-K filed Aug 14, 2009.
ITEM 1.01. Entry into a Material Definitive Agreement.
On August 12, 2009, Cedar Fair, L.P. and Canadas Wonderland, its indirect wholly owned subsidiary, entered into Amendment No. 1 (Amendment) to the Amended and Restated Credit Agreement (the Credit Agreement) with KeyBank National Association, as Administrative Agent and Collateral Agent; and certain Lenders party thereto. The Amendment amends the Credit Agreement, dated as of February 15, 2007.
As part of the Amendment, $900 million of term debt scheduled to mature in 2012 has been extended by two years. The extended term debt will mature in 2014 and bears interest at a rate of LIBOR plus 400 basis points, as long as the Companys corporate rating from Moodys is better than B2 or its issuer credit rating from S&P is better than B.
The amendment will also allow, among other things:
Other terms of the amendment include a reduction in the Companys existing $345 million revolving credit facilities, including a $30 million reduction in its U.S. facility and a $5 million reduction in its Canadian facility.
The foregoing description of the terms of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, which is filed as Exhibit 10.1, to this current report and is incorporated herein by reference.