Intrawest Corporation Announces Proposed Private Offerings of Senior Notes
21 Settembre 2004 - 3:00PM
PR Newswire (US)
Intrawest Corporation Announces Proposed Private Offerings of
Senior Notes Listed: NYSE TSX Symbols: IDR (NYSE) ITW (TSX)
VANCOUVER, Sept. 21 /PRNewswire-FirstCall/ -- Intrawest Corporation
today announced that it intends to sell, on a private placement
basis in the United States under Rule 144A of the Securities Act of
1933 (the Securities Act) and in each of the Canadian provinces, US
dollar-denominated 7.50% senior notes due 2013 (the US$ Notes), and
Canadian dollar-denominated senior notes due 2009 (the Cdn$ Notes,
and together with the US$ Notes, the Notes). The total aggregate
principal amount of Notes expected to be sold is approximately
US$325 million. The closing of the offerings is expected to take
place on or about October 7, 2004. The company intends to use the
proceeds from the sale of the US$ Notes and the Cdn$ Notes to pay a
portion of the consideration under the previously announced tender
offer and consent solicitation in respect of the company's
US$394.16 million aggregate principal amount of 10.50% senior notes
due 2010 (the 2010 Notes). The remainder of the consideration
payable under the tender offer and consent solicitation for the
2010 Notes will come from borrowings under the company's credit
facilities and from cash on hand. The US$ Notes and the Cdn$ Notes
will not be and have not been registered under the Securities Act
and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements under the Securities Act. This news release shall not
constitute an offer to sell or a solicitation of an offer to buy
any US$ Notes, Cdn$ Notes or any other securities, nor will there
be any sale of the US$ Notes, Cdn$ Notes or any other security in
any jurisdiction in which such an offer or sale would be unlawful.
Intrawest Corporation is the world's leading developer and operator
of village-centered resorts. Intrawest owns or controls 10 mountain
resorts in North America's most popular mountain destinations,
including Whistler Blackcomb, a host venue for the 2010 Winter
Olympic Games. The Company also owns Sandestin Golf and Beach
Resort in Florida and has a premier vacation ownership business,
Club Intrawest. Intrawest is developing five additional resort
villages at locations in North America and Europe. The company has
a 45 per cent interest in Alpine Helicopters Ltd., owner of
Canadian Mountain Holidays, the largest heli-skiing operation in
the world. Intrawest is headquartered in Vancouver, British
Columbia. For more information, visit http://www.intrawest.com/.
Statements contained in this release that are not historical facts
are forward-looking statements that involve risks and
uncertainties. Intrawest's actual results could differ materially
from those expressed or implied by such forward-looking statements.
Factors that could cause or contribute to such differences include,
but are not limited to, Intrawest's ability to implement its
business strategies, seasonality, weather conditions, competition,
general economic conditions, currency fluctuations and other risks
detailed in the company's filings with the Canadian securities
regulatory authorities and the U.S. Securities and Exchange
Commission. For additional information, please contact Mr. John
Currie, chief financial officer at (604) 669-9777. If you would
like to receive future news releases by email, please contact
DATASOURCE: Intrawest Corporation CONTACT: Mr. John Currie, chief
financial officer at (604) 669-9777; To request a free copy of this
organization's annual report, please go to http://www.newswire.ca/
and click on reports@cnw.
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