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

By Sara Rosenberg

New York, Sept. 6 – Alterra Mountain Co. is scheduled to hold a lender call on Friday to launch a fungible $50 million add-on term loan due 2024, 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 to par, the source said.

Proceeds will be used to help fund the acquisition of Crystal Mountain Resort in Washington.

Commitments are due on Sept. 12, the source added.

Closing is expected in the fourth quarter, subject to certain conditions, including regulatory approvals.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.