Intrawest Corporation announces closing of private placement of senior notes

Listed: NYSE TSE



Symbols: IDR (NYSE) ITW (TSE) (common)

ITW1N (preferred)



Mar 09, 2001, 00:00 ET from Intrawest Corporation

    VANCOUVER, March 9 /PRNewswire/ - Intrawest Corporation today announced
 the closing of a private placement of US $125 million aggregate principal
 amount of 10.5% senior notes due February 1, 2010. The net proceeds amounted
 to approximately US$128.2 million. The notes were sold at a price of 104.315%
 of their principal amount (with effective yield to maturity of approximately
 9.625%) and will be consolidated with and form a single series of securities
 with the US$135 million aggregate principal amount of notes bearing the same
 terms originally issued by the Company in January 2000.
     The company intends to use the net proceeds from the sale of the notes to
 reduce bank indebtedness.
 
     The statements which are not historical facts contained in this release
 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, 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.
 
     If you would like to receive future news releases by email, please
 contact investor_relations@intrawest.com.
 
 

SOURCE Intrawest Corporation
    VANCOUVER, March 9 /PRNewswire/ - Intrawest Corporation today announced
 the closing of a private placement of US $125 million aggregate principal
 amount of 10.5% senior notes due February 1, 2010. The net proceeds amounted
 to approximately US$128.2 million. The notes were sold at a price of 104.315%
 of their principal amount (with effective yield to maturity of approximately
 9.625%) and will be consolidated with and form a single series of securities
 with the US$135 million aggregate principal amount of notes bearing the same
 terms originally issued by the Company in January 2000.
     The company intends to use the net proceeds from the sale of the notes to
 reduce bank indebtedness.
 
     The statements which are not historical facts contained in this release
 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, 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.
 
     If you would like to receive future news releases by email, please
 contact investor_relations@intrawest.com.
 
 SOURCE Intrawest Corporation