Whistler Blackcomb Holdings Inc. Announces Credit Facility Extension and Interest Rate Swap
WHISTLER, BC, Oct. 30, 2014 /PRNewswire/ - Whistler Blackcomb Holdings Inc. (TSX: WB) (the "Company") is pleased to announced that Whistler Mountain Resort Limited Partnership and Blackcomb Skiing Enterprises Limited Partnership (together, the "Partnerships") have signed an agreement with their banking syndicate to amend and extend their existing credit facility. Under the terms of the agreement, the credit facility has been extended by one year to November 12, 2019. The key terms of the Partnerships' credit facility are otherwise unchanged from those announced on November 13, 2013.
In addition, on September 5, 2014, the Partnerships entered into a four-year, $125 million interest rate swap with a Canadian bank, which has the effect of fixing the underlying floating interest rate on a portion of the principal amount outstanding under the Partnerships' credit facility. The Partnerships' effective interest rate on the $125 million amount swapped is 3.9% based on the Partnerships' leverage ratio at June 30, 2014.
ABOUT WHISTLER BLACKCOMB HOLDINGS INC.
The Company holds a 75% interest in the Partnerships, which, together, carry on the four season mountain resort business located in the Resort Municipality of Whistler, British Columbia (the "Resort Business"). The Company is the operating general partner of the Partnerships and as such manages the Resort Business. Whistler Blackcomb, the official alpine skiing venue for the 2010 Olympic Winter Games, is situated in the Coast Mountains of British Columbia, 125 kilometres (78 miles) north of Vancouver, British Columbia. North America's largest four-season mountain resort, Whistler Mountain and Blackcomb Mountain are two side-by-side mountains, connected by the world record-breaking PEAK 2 PEAK Gondola, which combined offer over 200 marked runs, over 8,000 acres of terrain, 14 alpine bowls, three glaciers, receive on average over 1,165 centimetres (459 inches) of snow annually, and offer one of the longest ski seasons in North America. In the summer, Whistler Blackcomb offers a variety of activities, including hiking and biking trails, the Whistler Mountain Bike Park, and sightseeing on the PEAK 2 PEAK Gondola. Whistler Blackcomb Holdings Inc. is listed on the Toronto Stock Exchange under the symbol "WB". Additional information is available on the Company's website at www.whistlerblackcomb.com/holdings or under the Company's SEDAR profile at www.sedar.com.
SOURCE Whistler Blackcomb
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article