Alterra Mountain lifts add-on term loan to $75 million, firms at par

By Sara Rosenberg

New York, Sept. 12 – Alterra Mountain Co. upsized its fungible add-on term loan due 2024 to $75 million from $50 million and set the issue price at par, the tight end of the 99.875 to par talk, according to a market source.

Pricing on the add-on loan is Libor plus 300 basis points with a 0% Libor floor.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to help fund the acquisition of Crystal Mountain Resort in Washington.

Closing is expected in the fourth quarter, subject to certain conditions, including regulatory approvals.

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

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