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Blackstone's SeaWorld files for IPO

December 27, 2012

SeaWorld Entertainment, which operates eleven theme parks in the US, filed for an IPO on Thursday with the SEC. Though the filing outlined a placeholder deal size of $100 million, the company could raise between $500 million and $700 million, according to sources. IPO proceeds will primarily be used to repay debt, which stood at $1.8 billion as of 9/30/2012. 

The Orlando, FL-based company was founded in 1959 and booked $1.4 billion in sales for the 12 months ended 9/30/2012. SeaWorld plans to list under the symbol "SEAS". Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal, for which pricing terms and timing were not disclosed.