American Skiing to repay bank debt with proceeds from Steamboat sale

By Sara Rosenberg

New York, Dec. 19 - American Skiing Co. plans on repaying all existing senior debt and outstanding revolver balances under its senior credit facility, as well as certain other debt, using proceeds from the sale of Steamboat Ski & Resort Corp., according to a company news release.

Intrawest ULC is buying Steamboat Ski & Resort from American Skiing for $265 million.

The transaction is subject to customary closing conditions, including Hart-Scott-Rodino antitrust approval and consent of the U.S. Forest Service, and is expected to close on or before March 31, 2007.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.