WHISTLER, BC, Oct. 30, 2014 /PRNewswire/ - Whistler
Blackcomb Holdings Inc. (TSX: WB) (the "Company") is pleased to
announced that Whistler Mountain Resort Limited Partnership and
Blackcomb Skiing Enterprises Limited Partnership (together, the
"Partnerships") have signed an agreement with their banking
syndicate to amend and extend their existing credit facility. Under
the terms of the agreement, the credit facility has been extended
by one year to November 12,
2019. The key terms of the Partnerships' credit facility are
otherwise unchanged from those announced on November 13, 2013.
In addition, on September 5, 2014,
the Partnerships entered into a four-year, $125 million interest rate swap with a Canadian
bank, which has the effect of fixing the underlying floating
interest rate on a portion of the principal amount outstanding
under the Partnerships' credit facility. The Partnerships'
effective interest rate on the $125
million amount swapped is 3.9% based on the Partnerships'
leverage ratio at June 30, 2014.
ABOUT WHISTLER BLACKCOMB HOLDINGS INC.
The Company holds a 75% interest in the Partnerships, which,
together, carry on the four season mountain resort business located
in the Resort Municipality of Whistler,
British Columbia (the "Resort Business"). The Company is the
operating general partner of the Partnerships and as such manages
the Resort Business. Whistler Blackcomb, the official alpine skiing
venue for the 2010 Olympic Winter Games, is situated in the Coast
Mountains of British Columbia, 125
kilometres (78 miles) north of Vancouver,
British Columbia. North
America's largest four-season mountain resort, Whistler
Mountain and Blackcomb Mountain are two side-by-side mountains,
connected by the world record-breaking PEAK 2 PEAK Gondola, which
combined offer over 200 marked runs, over 8,000 acres of terrain,
14 alpine bowls, three glaciers, receive on average over 1,165
centimetres (459 inches) of snow annually, and offer one of the
longest ski seasons in North
America. In the summer, Whistler Blackcomb offers a variety
of activities, including hiking and biking trails, the Whistler
Mountain Bike Park, and sightseeing on the PEAK 2 PEAK Gondola.
Whistler Blackcomb Holdings Inc. is listed on the Toronto Stock
Exchange under the symbol "WB". Additional information is
available on the Company's website at
www.whistlerblackcomb.com/holdings or under the Company's SEDAR
profile at www.sedar.com.
SOURCE Whistler Blackcomb