Boyne Resorts begins tender offer for $580 million 7¼% notes due 2025

By Rebecca Melvin

Concord, N.H., April 15 – Boyne USA Inc. has begun a cash tender offer for any and all of its $580 million 7¼% senior secured second lien notes due 2025, according to a company release.

The offer expires at 5 p.m. ET on April 21.

Holders that validly tender notes will be eligible to receive a total cash consideration of $1,039.10 per $1,000 principal amount of notes plus accrued and unpaid interest. Settlement is expected to occur on April 26.

The company also announced it intends to redeem any notes that remain outstanding after completion of the offer on May 15.

The tender is not conditioned on a minimum amount of notes being tendered.

D.F. King & Co. Inc. (877 361-7972, 212 269-5550, boyne@dfking.com or www.dfking.com/boyne) is the information agent.

Wells Fargo Securities LLC (704 410-4756 or 866 309-6316) is the dealer manager.

Based in Boyne Falls, Mich., the company owns and operates mountain resorts.

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