PARK CITY — American Skiing Co. said Monday it has refinanced its existing resort senior credit facility and 12 percent senior subordinated notes with a new $230 million senior secured credit facility.
The prior facility and notes were both due in 2006. The new facility was co-led by Credit Suisse First Boston and GE Commercial Finance's Commercial & Industrial Finance unit, with a major participation from Black Diamond Capital Management.
The company also exchanged some stock for junior subordinated debt due in 2012 and extended the maturity of existing junior subordinated notes to 2012.
View Comments
The overall refinancing addresses more than $320 million in debt and preferred equity securities