Alterra Mountain launches $500 million term loan at SOFR plus 375 bps

By Sara Rosenberg

New York, May 4 – Alterra Mountain Co. was scheduled to hold a lender call at 1 p.m. ET on Thursday to launch a $500 million seven-year term loan B (B+) that is talked at SOFR+10 basis points CSA plus 375 bps with a 0% floor and an original issue discount of 99 to 99.25, according to a market source.

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

JPMorgan Chase Bank, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley Senior Funding Inc., US Bank and Wells Fargo Securities LLC are the leads on the deal.

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

Proceeds will be used to refinance a $310 million term loan due 2024 and for general corporate purposes, including payments associated with management incentive programs.

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

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