Alterra Mountain to launch $50 million add-on term loan on Wednesday

By Sara Rosenberg

New York, June 19 – Alterra Mountain Co. (Intrawest Resorts Holdings Inc.) will hold a lender call on Wednesday to launch a fungible $50 million add-on term loan, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Price talk on the add-on term loan is Libor plus 300 basis points with a 0% Libor floor and an original issue discount of 99.875, the source said.

The loan has 101 soft call protection until October.

Proceeds will be used to fund an acquisition.

Commitments are due on Thursday, the source added.

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

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