Intrawest Resorts seeks $200 million add-on term loan at 99.5 OID

By Sara Rosenberg

New York, Sept. 11 – Intrawest Resorts Holdings Inc. (Hawk Holding Co. LLC) is in market with a $200 million add-on term loan that is talked at Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

The add-on term loan, as well as the existing term loan, will get 101 soft call protection for six months, the source said.

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

Commitments are due on Friday, the source added.

Proceeds will be used to fund the acquisition of Deer Valley Resort, a Park City, Utah-based mountain resort.

The transaction is subject to certain closing conditions and is anticipated to close prior to the upcoming 2017-2018 ski season.

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

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