Alterra Mountain launches $50 million add-on term B, repricing

By Sara Rosenberg

New York, Nov. 4 – Alterra Mountain Co. held a lender call on Monday to launch a $50 million add-on term loan B due July 2024 and a repricing of its existing $1.686 billion term loan B due July 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 275 basis points with a 0% Libor floor and an original issue discount of 99.875 to par, the source said.

The repricing of the existing loan would take the spread down to Libor plus 275 bps from Libor plus 300 bps.

All of the term loan B debt is getting 101 soft call protection for six months.

Commitments are due at noon ET on Friday, the source added.

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

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