Vail Resorts, Inc. (NYSE: MTN) has announced the pricing of its senior notes offering, with the company pricing $500 million in aggregate principal amount of 5.625% senior notes due 2030 at par. This offering was upsized from the originally announced aggregate principal amount of $400 million. The notes offering is expected to close on July 2, 2025, subject to customary closing conditions.
The company intends to use the proceeds from the proposed 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 and 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, and, in each case, to pay related fees and expenses.
The notes will be unsecured senior obligations of the company and will be guaranteed by certain of the company’s domestic subsidiaries (other than certain excluded subsidiaries). The notes and the related subsidiary guarantees are being offered to persons reasonably believed to be qualified institutional buyers in an offering exempt from registration pursuant to rule 144a under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside of the United States in compliance with Regulation S under the Securities Act.
Vail Resorts, Inc. is a network of destination and close-to-home ski resorts, owning and/or managing a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums, and branded hotels located in close proximity to its mountain destinations, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Retail operates more than 250 retail and rental locations across North America. Following these announcements, the company's shares moved -0.06%, and are now trading at a price of $157.13. If you want to know more, read the company's complete 8-K report here.
