Vail Resorts Announces $400M Senior Notes Offering

By Greg Peters • Monday, June 30 15:30 • Permanent Link

Vail Resorts, Inc. (NYSE: MTN) has announced its intention to commence a private offering of $400 million in aggregate principal amount of senior notes due 2030. The notes will be unsecured senior obligations of the company and will be guaranteed by certain of the company’s domestic subsidiaries.

The company plans to utilize the proceeds from the offering to repay borrowings under its revolving credit facility incurred to fund the repurchase of $200 million of its outstanding shares of common stock completed in June 2025. Additionally, the company intends to allocate funds towards the repurchase or repayment of a portion of its outstanding 0.00% convertible senior notes due 2026 at or prior to their maturity on January 1, 2026, along with related fees and expenses.

This press release does not constitute an offer to repurchase the company's outstanding 0.00% convertible senior notes due 2026. The notes and the related subsidiary guarantees are being offered to qualified institutional buyers in an offering exempt from registration pursuant to rule 144a under the Securities Act of 1933, as well as to non-U.S. persons outside of the United States in compliance with Regulation S under the Securities Act.

As of June 30, 2025, Vail Resorts, Inc. operates a network of ski resorts including Vail Mountain, Breckenridge, Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America, as well as properties in Switzerland and Australia. The company also owns and/or manages a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums, and branded hotels, along with the Grand Teton Lodge Company in Jackson Hole, Wyoming. Furthermore, Vail Resorts Retail operates more than 250 retail and rental locations across North America.

This press release emphasizes the company's commitment to achieving a zero net operating footprint by 2030 and supporting its employees and communities, aligning with its EpicPromise initiative. The market has reacted to these announcements by moving the company's shares -1.04% to a price of $155.59. Check out the company's full 8-K submission here.

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