Alterra launches $400 million term loan at Libor plus 475-500 bps

By Sara Rosenberg

New York, May 11 – Alterra Mountain Co. held a lender call on Monday to launch a $400 million incremental term loan (B1/B) that is talked at Libor plus 475 basis points to 500 bps with a 1% Libor floor and an original issue discount of 97, according to a market source.

J.P. Morgan Securities LLC, Wells Fargo Securities LLC, BofA Securities Inc., Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc., Citigroup Global Markets Inc. and UBS Investment Bank are the lead banks on the deal.

Proceeds will be used for general corporate purposes and to add liquidity.

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

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