American Skiing to redeem senior notes with proposed loan proceeds

Pittsburgh, Sept. 20 - American Skiing Co. said it will use proceeds from its proposed $230 million senior secured credit facility to redeem its senior subordinated notes due 2006.

The proceeds will also be used to refinance the company's existing credit facility.

The new facility is expected to launch in a bank meeting Wednesday, according to a market source.

American Skiing is a Park City, Utah, operator of alpine ski and snowboard resorts.

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