Merlin Entertainments, the company behind Legoland and other major attractions, has reportedly secured a £650 million ($817 million) refinancing deal. This new borrowing is intended to replace debt maturing in 2027, providing the theme park giant with improved financial visibility for the coming years. Sky News, which first reported the deal, indicates that Merlin is expected to announce the refinancing alongside its half-year financial results later this week.
The refinancing is understood to involve debt secured against several of Merlin's prominent British attractions, including the London Eye, London Dungeon, and Shrek's Adventure London. While the precise terms have not been publicly confirmed, the Sky News report suggests that Merlin had between £600 million and £650 million ($754 million and $817 million) in debt maturities due in 2027. The identities of the new debt providers were not disclosed at the time of reporting.
This refinancing is a significant development for Merlin, as it aims to balance its debt position with ongoing investment in new attractions and experiences. The company has been pursuing a development strategy that includes major partnerships with brands like Warner Bros. Discovery Global Experiences and Mojang Studios for projects such as the world's first LEGO Harry Potter land. Merlin had previously explored selling some of its SEA LIFE attractions but shelved the plan due to unattractive bids. Despite a slight decrease in guest numbers from 62.8 million in 2024 to 60.5 million in 2025, the company reported underlying EBITDA of £571 million ($717 million) for 2025.
