Alterra launches $1.85 billion term loan at Libor plus 325-350 bps

By Sara Rosenberg

New York, July 21 – Alterra Mountain Co. held a lender call on Wednesday to launch a $1.848 billion term loan B due 2028 (B) that is talked at Libor plus 325 basis points to 350 bps with a 0.5% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank is the left lead on the deal.

Commitments are due at 5 p.m. ET on July 28, the source added.

Proceeds will be used to reprice, extend and combine into one tranche an existing term loan B due 2024 and an existing term loan B-2 due 2026.

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

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