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Intrawest selling senior notes

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Intrawest has been selling senior notes this month and intends to repay certain debentures and reduce its bank debt with the money.

The notes were on sale on a private placement basis in the U.S. and in certain Canadian provinces at a price of 102.014 per cent of their principal amount.

The notes, worth $137 million US, are due Feb. 1, 2010.

They have an effective yield to maturity of approximately 10 per cent.

The company plans to repay in full upon maturity its $125 million Cdn 6.85 per cent debentures which are due at the beginning of December, as well as reducing its bank debt.

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