Six Flags Urges Debt Exchange To Avoid Early Default

Law360, New York (April 20, 2009, 12:00 AM EDT) -- Beleaguered theme-park giant Six Flags Inc. is asking bondholders holding $588.3 million in senior secured notes to take a proffered equity exchange, warning that failure to do so could stick shareholders with significant losses if the company is forced into Chapter 11 bankruptcy by early default.

Six Flags, which disclosed on March 11 that financial woes and mounting debt had pushed it to consider filing for bankruptcy, offered on April 17 to holders of senior security notes coming due as soon as 2010 an exchange of...
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