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Alterra Mountain firms $1.56 billion term loan at Libor plus 300 bps
By Sara Rosenberg
New York, April 23 – Alterra Mountain Co. (Intrawest Resorts Holdings Inc.) finalized pricing on its $1.56 billion covenant-light term loan B due July 2024 at Libor plus 300 basis points, the high end of the Libor plus 275 bps to 300 bps talk, according to a market source.
As before, the term loan has a 0% Libor floor, a par issue price and 101 soft call protection for six months.
J.P. Morgan Securities LLC is the lead bank on the deal.
Proceeds will be used to reprice an existing term loan down from Libor plus 325 bps with a 1% Libor floor.
Alterra is a Denver-based mountain resort and adventure company.
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