Vail Resorts Inc. announced its intention to offer, subject to market and other conditions, $500 million aggregate principal amount of convertible senior notes due 2026 in a private offering to institutional buyers.
Vail Resorts also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date notes are first issued, up to an additional $75 million principal amount of Notes.
The notes will be senior, unsecured obligations of Vail Resorts, will accrue interest payable semi-annually in arrears and will mature on January 1, 2026, unless earlier repurchased, redeemed or converted.
Vail Resorts intends to use the net proceeds from the offering for general corporate purposes.
