UPDATE 1-Six Flags makes bond payment, to defer another

* Interest payment made on notes due 2013

* To use grace period for payment on notes due 2015 (Adds plans to defer payment)

NEW YORK, May 15 (Reuters) - Theme park operator Six Flags SIXF.OB said on Friday that it has made a $7 million coupon payment that was due to bondholders on April 15.

The New York-based company, which has offered to exchange notes for stock in a bid to reduce debt obligations, also said it planned to take advantage of a 30-day grace period to make an interest payment on another series of senior notes.

Additionally, Six Flags said it received proceeds of a loan from a unit of Time Warner Inc (TWX.N) to fund about $53 million of "put" obligations related to Texas and Georgia parks.

In a statement, the company said that on May 14, it made an interest payment on its 9.75 percent senior notes due 2013, after taking advantage of a 30-day grace period.

It added it has also decided to use a grace period and defer a semi-annual interest payment of about $6 million on its convertible senior notes due 2015. That payment was due on Friday.

The company, which offers 800 rides in its 20 North American parks, last month offered to exchange certain notes for common shares as part of a restructuring plan in which it hopes to reduce debt and stave off a Chapter 11 filing.

The company's chief executive said last week during an earnings conference call that Six Flags was hoping to shed about $870 million of debt as well as obligations tied to Preferred Income Equity Redeemable Shares, or PIERS. (Reporting by Karen Jacobs and Deepa Seetharaman; Editing by Richard Chang)