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Intrawest selling senior notes


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.