Intrawest Corporation announces pricing of tender offer
09 Ottobre 2004 - 3:52AM
PR Newswire (US)
Intrawest Corporation announces pricing of tender offer Listed:
NYSE TSX Symbols: IDR (NYSE) ITW (TSX) VANCOUVER, Oct. 8
/PRNewswire-FirstCall/ -- Intrawest Corporation today announced the
pricing terms of its previously announced tender offer and consent
solicitation (the "Offer") for its outstanding 10.50% Senior Notes
due February 1, 2010 (CUSIP No. 460915 AN1) (the "2010 Notes"). The
reference security for the 2010 Notes is the 7 1/2% U.S. Treasury
Note due February 15, 2005 (the "Reference Security") and the
purchase price has been based upon a spread of 50 points over the
yield to maturity as of today's date on the Reference Security. The
total consideration per $1,000 principal amount of 2010 Notes
validly tendered in the Offer prior to 5:00 p.m., New York time, on
September 28, 2004 (the "Consent Date") is $1,076.03, of which
$10.00 is a consent payment. Holders who have tendered or will
tender their 2010 Notes after the Consent Date but on or prior to
the Expiration Date (as defined below) will receive consideration
of $1,066.03 per $1,000 principal amount of 2010 Notes validly
tendered. The Offer, as described in Intrawest's Offer to Purchase
and Consent Solicitation dated September 15, 2004 and related
Letter of Transmittal (the "Offer Documents"), expires at midnight,
New York time, on October 13, 2004 (the "Expiration Date") unless
it is extended or terminated earlier. Payment for 2010 Notes
tendered on or prior to the Expiration Date and accepted for
payment will be made on the second business day immediately
following the Expiration Date. Tendering holders of the 2010 Notes
will also receive accrued and unpaid interest up to, but not
including, the payment date. This announcement is not an offer to
purchase, nor a solicitation of an offer to purchase the 2010
Notes. The conditions to the Offer continue to be as set out in the
Offer Documents. The Offer Documents should be read carefully
before any decision is made with respect to the Offer. 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 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 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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