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SeaWorld Entertainment, Inc. Announces Pricing of Senior Notes and Commitments Received on First Lien Term Loan and Revolving Credit Facility

ORLANDO, Fla., Aug. 13, 2021 /PRNewswire/ — SeaWorld Entertainment, Inc. (NYSE: SEAS) (the “Company”), a leading theme park and entertainment company, announced the pricing of the offering of $725.0 million (downsized from $825.0 million) aggregate principal amount of 5.250% senior notes due 2029 (the “Notes”) of SeaWorld Parks Entertainment, Inc., a direct wholly-owned subsidiary of the Company (the “Issuer”) at a price of 100% of the par value thereof. The sale of the Notes is expected to close on August 25, 2021, subject to customary closing conditions. In addition, the Company also announced that it has received (i) $385.0 million in revolving commitments from revolving lenders (the “New Revolving Loans”) and (ii) commitments for $1.2 billion in term loans from term lenders were successfully allocated by the lead arranger (upsized from $1.1 billion) (the “New Term Loans”).

The Notes will be fully and unconditionally guaranteed by the Company, any subsidiary of the Company that directly or indirectly owns 100% of the issued and outstanding equity interests of the Issuer, and each of the Issuer’s subsidiaries that guarantees the Issuer’s existing senior secured credit facilities.

The Company intends to use the proceeds from the New Term Loans and the issuance of the Notes, together with cash on hand, to redeem $450.0 million aggregate principal amount of the Issuer’s outstanding 9.500% Second-Priority Senior Secured Notes due 2025, to refinance the Issuer’s existing term loan facility and its existing revolving credit facility, and to pay related expenses of the offering and refinancing.

The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States, only to non-U.S. investors pursuant to Regulation

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