On December 27, 2002, Intrawest Corporation, a developer and operator of village-centred resorts, completed its concurrent offers to exchange an aggregate principal amount of US$397 million of its 10.5 per cent senior notes due February 1, 2010. The offers were made concurrently to the holders of Intrawest’s US$137 million aggregate principal amount of senior notes, which were privately placed in the U.S. and Canada in September 2002, and to the holders of Intrawest’s US$260 million aggregate principal amount of senior notes, which had been previously registered in the U.S. and qualified for distribution in certain Canadian provinces.
The exchange notes were registered in the U.S. through the multijurisdictional disclosure system under a registration statement on Form F-10, and qualified for distribution in B.C., Ontario and Quebec pursuant to a final short-form prospectus.
Intrawest was represented by McCarthy Tétrault LLP, with a team comprised of Richard Balfour, Michael Urbani and Darren Watt (securities) and Michael Quigley and Christopher Falk (tax). Gary Kocher, Christopher Cunningham, Ben Orndorff and Charles Purcell of Preston Gates & Ellis LLP in Seattle provided U.S. securities and tax law advice to Intrawest.