Alterra Mountain revises $500 million term loan B OID to 99.5

By Sara Rosenberg

New York, May 9 – Alterra Mountain Co. modified the original issue discount on its $500 million seven-year term loan B (B1/B+) to 99.5 from talk in the range of 99 to 99.25, according to a market source.

Pricing on the term loan remained at SOFR+10 basis points CSA plus 375 bps with a 0% floor.

The term loan still has 101 soft call protection for six months.

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 were scheduled to be due at noon ET on Tuesday, accelerated from 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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