Intrawest shops $555 million term B repricing at Libor plus 350 bps

By Sara Rosenberg

New York, Oct. 5 – Intrawest Operations Group LLC is talking the repricing of its roughly $555 million covenant-light term loan B due December 2020 at Libor plus 350 basis points with a 1% Libor floor and a par issue price, according to a market source.

The repriced loan will get 101 soft call protection for six months.

Deutsche Bank Securities Inc., Goldman Sachs Bank USA, Bank of America Merrill Lynch and Credit Suisse Securities (USA) LLC are the bookrunners on the deal that launched with a call on Tuesday.

The repricing will take the term loan B down from Libor plus 400 bps with a 1% Libor floor. The debt is prepayable at par.

The existing lender commitments/cashless roll deadline is noon ET on Oct. 7, and non-existing lender commitments are due on Tuesday.

Intrawest is a Denver-based mountain resort, adventure and real estate company.

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