Intrawest Corporation announces completion of private offering of Senior Notes
06 Ottobre 2004 - 8:41PM
PR Newswire (US)
Intrawest Corporation announces completion of private offering of
Senior Notes Listed: NYSE TSX Symbols: IDR (NYSE) ITW (TSX)
VANCOUVER, Oct. 6 /PRNewswire-FirstCall/ -- Intrawest Corporation
announced today that it has sold, on a private placement basis in
the United States under Rule 144A of the Securities Act of 1933
(the "Securities Act") and in certain Canadian provinces, US $225
million aggregate principal amount of 7.50% senior notes due
October 15, 2013 (the US Notes) and Cdn $125 million aggregate
principal amount of 6.875% senior notes due October 15, 2009 (the
Cdn Notes). The net proceeds amounted to approximately US $322.6
million. The US Notes were sold at 102.312% and the Cdn Notes were
sold at par. The company intends to use the proceeds from the sale
of Notes, along with borrowings under the company's credit
facilities, to retire US $394.16 million principal amount of its
outstanding 10.5% senior notes due February 1, 2010 which are
subject to a tender offer and consent solicitation which commenced
on September 15, 2004. The Notes will not be and have not been
registered under the Securities Act or any state securities laws
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 Notes or any other securities, nor will there be any sale of
the 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 operator and developer 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. Intrawest 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 or Mr. Tim McNulty, director,
investor relations, at (604) 623-6620 or at DATASOURCE: Intrawest
Corporation CONTACT: Mr. John Currie, chief financial officer, at
(604) 669-9777 or Mr. Tim McNulty, director, investor relations, at
(604) 623-6620 or at ; 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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