Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Alterra Mountain Co. > News item |
Alterra trims spread on $400 million term loan to Libor plus 450 bps
By Sara Rosenberg
New York, May 13 – Alterra Mountain Co. reduced pricing on its $400 million incremental term loan (B1/B) to Libor plus 450 basis points from talk in the range of Libor plus 475 bps to 500 bps, according to a market source.
In addition, the original issue discount on the term loan was changed to 98 from 97, the source said.
The term loan still has a 1% Libor floor.
J.P. Morgan Securities LLC, Wells Fargo Securities LLC, BofA Securities Inc., Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc., Citigroup Global Markets Inc. and UBS Investment Bank are the lead banks on the deal.
Proceeds will be used for general corporate purposes and to add liquidity.
Alterra is a Denver-based mountain resort and adventure company.
© 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.