Intrawest revises OID on $200 million add-on term loan to 99.75

By Sara Rosenberg

New York, Sept. 13 – Intrawest Resorts Holdings Inc. (Hawk Holding Co. LLC) tightened the original issue discount on its $200 million add-on term loan to 99.75 from 99.5, according to a market source.

Pricing on the add-on loan is Libor plus 325 basis points with a 1% Libor floor.

The add-on term loan, as well as the existing term loan, will get 101 soft call protection for six months.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to fund the acquisition of Deer Valley Resort, a Park City, Utah-based mountain resort.

The transaction is subject to certain closing conditions and is anticipated to close prior to the upcoming 2017-2018 ski season.

Intrawest is a Denver-based mountain resort and adventure company.

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