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POWDR driving by with $300 million of five-year secured notes; early talk 6¼-6½% area
By Paul A. Harris
Portland, Ore., July 20 – POWDR Corp. plans to price a $300 million offering of five-year senior secured notes in a Monday drive-by trailing a mid-morning conference call with investors, according to market sources.
Early guidance has the deal coming to yield in the 6¼% to 6½% area, a bond trader said.
Jefferies LLC is the bookrunner.
The notes become callable after two years at par plus 50% of the coupon.
The Park City, Utah-based independent lifestyle company, which operates a portfolio of mountain ski resorts, plans to use the proceeds to refinance debt and for general corporate purposes.
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