Festival Fun Parks, LLC and Palace Finance, Inc. Announce Execution of Supplemental Indenture Relating to 10-7/8% Senior Notes

Search Blogs that Mention this News Release

Click this link to view linked Bookmarking Services

Click this link to view linked Blogging Services

Festival Fun Parks, LLC and Palace Finance, Inc. Announce Execution of Supplemental Indenture Relating to 10-7/8% Senior Notes

    NEWPORT BEACH, Calif., Jan. 9 /PRNewswire/ -- Festival Fun Parks, LLC
("Festival") and Palace Finance, Inc. ("Palace," and together with
Festival, the "Companies") today announced that the supplemental indenture
(the "Supplemental Indenture") providing for certain amendments (the
"Amendments") to the indenture (the "Indenture") governing their 10-7/8%
Senior Notes due 2014 (the "Notes") was executed today by the Companies,
the guarantors party thereto and the trustee under the Indenture. The
execution of the Supplemental Indenture followed the Companies' earlier
announcement that consents ("Consents") of 99.96% of the outstanding Notes
not held by the Companies or their affiliates to the Supplemental Indenture
had been delivered by the Consent Payment Deadline (as defined in the Offer
to Purchase and Consent Solicitation Statement, dated December 20, 2007
(the "Offer to Purchase"). Although the Supplemental Indenture became
effective when it was executed by the Companies, the guarantors party
thereto and the trustee, the Amendments will not become operative until the
opening of business on the day that the Companies pay for tendered Notes.

    The obligation of the Companies to accept for payment and purchase the
Notes that are tendered and pay for the related Consents is conditioned on,
among other things, obtaining sufficient financing to repurchase the Notes
pursuant to the tender offer and the consent solicitation.

    This announcement is not an offer to purchase, a solicitation of an
offer to purchase or a solicitation of consent with respect to any
securities. The tender offer and consent solicitation is being made solely
in the Offer to Purchase and accompanying Consent and Letter of
Transmittal.

    Festival and Palace have engaged Merrill Lynch & Co. to act as the
dealer manager and solicitation agent for the tender offer and the consent
solicitation. Questions regarding the tender offer and consent solicitation
may be directed to Merrill Lynch toll-free at (888) 654-8637 or collect at
(212) 449-4914. Request for copies of the Offer to Purchase and Consent
Solicitation Statement and the Consent and Letter of Transmittal may be
directed to Global Bondholder Services Corporation, the information agent
for the tender offer and the consent solicitation, at (866) 952-2200.

SOURCE Palace Finance, Inc.