Six Flags to redeem debt, stock

By PAUL NOGLOWS

Continuing Time Warner's companywide refinancing effort, subsidiary Six Flags Entertainment announced Thursday that it will redeem all of its outstanding $ 164 million aggregate principal amount of 11.75% senior subordinated notes due Sept. 30, 1999, and all of its outstanding Series C 9% preferred stock having an aggregate liquidation value of about $ 53 million.

In addition, S.F. Holdings Inc., a wholly owned subsidiary of SFE, will also redeem all of its outstanding Series A 9% preferred stock having an aggregate liquidation value of about $ 11 million.

The 11.75% notes will be redeemed on July 31, 1993, at a price of 102% of the principal amount plus accrued interest, and the Six Flags preferred stock will be redeemed on July 31, 1993, at a price per share equal to $ 1,000 plus accrued dividends.