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Alterra lifts add-on loan to $80 million, tightens issue price to par
By Sara Rosenberg
New York, June 22 – Alterra Mountain Co. (Intrawest Resorts Holdings Inc.) upsized its fungible add-on term loan to $80 million from $50 million and revised the issue price to par from 99.875, according to a market source.
Pricing on the add-on term loan is Libor plus 300 basis points with a 0% Libor floor.
The loan has 101 soft call protection until October.
J.P. Morgan Securities LLC is the lead bank on the deal.
Proceeds will be used to fund an acquisition.
Alterra is a Denver-based mountain resort and adventure company.
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