Intrawest launches $540 million term loan at Libor plus 450 bps

By Sara Rosenberg

New York, Nov. 12 - Intrawest Corp. launched with a call on Tuesday afternoon a $540 million seven-year first-lien covenant-light term loan that is talked at Libor plus 450 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for one year, the source said.

Goldman Sachs Bank USA, Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and Bank of America Merrill Lynch are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

Commitments are due on Nov. 22, the source added.

Intrawest is Denver-based operator of ski resorts and luxury adventure travel brands.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.