Company Press Release: Intrawest Corporation
VANCOUVER, Jan. 19 /CNW-PRN/ - Intrawest Corporation
Listed: NYSE TSE
Symbols: IDR (NYSE) ITW (TSE) (common)
ITW1N (preferred)
Intrawest today announced the closing of a private placement of US$135 million aggregate principal amount of 10.5%
senior unsecured notes due February 2010. The net proceeds amounted to approximately US$132,550,000. The notes
were sold in the United States under Rule 144A and in certain Canadian provinces. The underwriters were Goldman,
Sachs & Co., Scotia Capital and TD Securities.
The company intends to use the proceeds from the sale of the notes to reduce bank indebtedness.
Intrawest is the leading developer and operator of village-centered resorts across North America. The company owns
Whistler/Blackcomb, North America's most popular mountain resort. It also owns Panorama in British Columbia, Blue
Mountain in Ontario (50%), Tremblant and Mont Ste. Marie in Quebec, Copper in Colorado, Stratton in Vermont, Snowshoe
in West Virginia, Mountain Creek in New Jersey, Mammoth in California (59%), and Sandestin, a golf and beach resort
in Florida. The company is creating world-class, four-season resort villages at Keystone, Colorado, Solitude, Utah
and Squaw Valley near Lake Tahoe, California and has a premier timeshare business. Intrawest has a significant
investment in Compagnie des Alpes, the largest ski company in the world in terms of skier visits, and a 45% interest
in Alpine Helicopters Ltd., owner of Canadian Mountain Holidays, the largest heli-skiing operation in the world.
Intrawest Corporation's shares are traded on the New York (IDR) and Toronto (ITW) stock exchanges. The company
is headquartered in Vancouver, British Columbia.
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 U.S. Securities and Exchange Commission. www.intrawest.com
For additional information, contact Mr. Daniel Jarvis, executive vice president and chief financial officer at
(604) 669-9777.
To request a free copy of this organization's annual report, please go to www.newswire.ca
and click on reports@cnw
SOURCE: Intrawest Corporation