Thursday, April 29, 2010

Intrawest completes new loan

Intrawest announced that it has successfully completed the refinancing of its corporate debt which was due in December 2009. The Company repaid its prior lenders in full and has completed a new loan, which is scheduled to mature in 2014. Terms of the new loan were not disclosed.
This probably ends a string of asset sales by Intrawest, beginning with the sale of Copper Mountain last December, followed by the sale of Panorama resort, B.C., the Village at Squaw Valley and the Sandestin Golf and Beach Resort .
Intrawest is a leader in the development and management of experiential destination resorts. The Company has a network of resorts at North America’s most popular mountain destinations including Whistler Blackcomb, the host venue of the 2010 Olympic and Paralympic Winter Games and Canadian Mountain Holidays, the largest heli-skiing operation in the world. Intrawest is headquartered in Vancouver, British Columbia.