Vail Resorts announces $600M private offering of 2032 senior notes to redeem 2025 notes

VAIL RESORTS INC

$600M senior notes due 2032, unsecured and guaranteed by certain domestic subsidiaries.
Proceeds to redeem all $600M of outstanding 6.250% senior notes due 2025 at par.
Ninth A&R Credit Agreement extends revolver and term loan maturity to April 24, 2029 (subject to 2025 notes status).
Offering exempt under Rule 144A and Regulation S; not registered under Securities Act.

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VAIL RESORTS INC amended Ninth A&R Credit Agreement with Bank of America, N.A., as administrative agent, and certain Lenders (effective 2024-04-24).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent, and certain Lenders
Effective: 2024-04-24

Exact text from the filing

On April 24, 2024, Vail Holdings, Inc., a Colorado corporation (the “Borrower”) and a wholly-owned subsidiary of Vail Resorts, Inc. (the “Company”), a Delaware corporation, certain subsidiaries of the Company and the Company, as guarantors, Bank of America, N.A., as administrative agent, and certain Lenders entered into an amendment and restatement of the Eighth Amended and Restated Credit Agreement, dated as of August 15, 2018 (as so amended and restated, the “Ninth A&R Credit Agreement”).

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Source: SEC EDGAR

accession 0000812011-24-000045

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