Hawk Holding plans new debt financing for purchase of Intrawest

By Sara Rosenberg

New York, April 10 – Hawk Holding Co. LLC has received a commitment for debt financing to help fund the acquisition of Intrawest Resorts Holdings Inc. by Aspen Skiing Co. LLC and KSL Capital Partners LLC, according to an 8-K filed with the Securities and Exchange Commission on Monday.

JPMorgan Chase Bank provided the debt commitment.

Other funds for the transaction will come from equity.

Under the agreement, Intrawest is being bought for $23.75 in cash per share, representing a total valuation of about $1.5 billion including debt obligations to be assumed or refinanced net of cash at closing.

Closing is expected at the end of the third quarter, subject to certain conditions including regulatory approvals.

Intrawest is a Denver-based mountain resort and adventure company. Aspen Skiing is an Aspen, Colo.-based owner and operator of the four mountains of Aspen Snowmass and hospitality properties.

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