Vail Resorts amends credit agreement: $1.275B term loan, lower rates, extended maturity

VAIL RESORTS INC

New $1,275,000,000 senior term loan facility replaces $885.9M term loan and $275M delayed draw facility.
Maturity extended to 5 years from closing or 90 days before 5.625% senior notes due 2030 (if outstanding).
Interest rate reduced by modifying leverage-based pricing grid and removing 0.10% credit spread adjustment.
Applicable margin set initially at Pricing Level III (1.500% for Term Reference Rate loans).
Revolver commitment remains; commitment fee and L/C fees adjusted via Net Funded Debt to Adjusted EBITDA ratio.

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