Intrawest firms roughly $593 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, April 27 – Intrawest Operations Group LLC set pricing on its $592.8 million term loan due Dec. 9, 2020 at Libor plus 375 basis points, the wide end of the Libor plus 350 bps to 375 bps talk, according to a market source.

Also, the 101 soft call protection on the term loan was extended to one year from six months, the source said.

The term loan still has a 1% Libor floor and a par issue price.

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

Proceeds will be used to reprice an existing term loan from Libor plus 450 bps with a 1% Libor floor.

Closing is expected on or around Friday.

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

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