{"id":2182,"date":"2008-10-20T10:36:13","date_gmt":"2008-10-20T17:36:13","guid":{"rendered":"http:\/\/www.boardistan.com\/?p=2182"},"modified":"2008-10-20T10:36:15","modified_gmt":"2008-10-20T17:36:15","slug":"intrawest-on-the-ropes","status":"publish","type":"post","link":"http:\/\/www.boardistan.com\/?p=2182","title":{"rendered":"Intrawest On The Ropes?"},"content":{"rendered":"<p><strong><a href=\"http:\/\/www.fortressinv.com\/\" target=\"_blank\">Fortress Investment Group<\/a><\/strong>, the private equity fund that purchased <strong><a href=\"http:\/\/www.intrawest.com\/\" target=\"_blank\">Intrawest<\/a><\/strong> in 2006 for $2.8 billion has reportedly approached potential and existing lenders about a refinancing of $1.4 billion of Intrawest\u2019s senior debt according to a story in the <strong><em><a href=\"http:\/\/www.ft.com\/cms\/s\/0\/8802f79c-9bcf-11dd-ae76-000077b07658.html?nclick_check=1\" target=\"_blank\">Financial Times<\/a><\/em><\/strong>.<\/p>\n<blockquote><p>Fortress controls Intrawest via a $1.37bn equity stake. With Intrawest\u2019s debt trading at less than 70 cents on the dollar, Fortress has approached potential and existing lenders to discuss a refinancing involving $1.4bn in senior debt. Fortress is putting in $100m of additional capital to preserve its equity\u2019s value. . . . People familiar with Fortress, which operates hedge funds and private equity vehicles, say there is a low probability Intrawest will file for Chapter 11 bankruptcy protection.<\/p><\/blockquote>\n<p>Low probability? We guess that&#8217;s a good thing, right?<\/p>\n<p><strong>[Link: <\/strong><strong><a href=\"http:\/\/www.ft.com\/cms\/s\/0\/8802f79c-9bcf-11dd-ae76-000077b07658.html?nclick_check=1\" target=\"_blank\">Financial Times<\/a><\/strong><strong>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fortress Investment Group, the private equity fund that purchased Intrawest in 2006 for $2.8 billion has reportedly approached potential and existing lenders about a refinancing of $1.4 billion of Intrawest\u2019s senior debt according to a story in the Financial Times. Fortress controls Intrawest via a $1.37bn equity stake. With Intrawest\u2019s debt trading at less than [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[14,4],"tags":[],"_links":{"self":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/2182"}],"collection":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2182"}],"version-history":[{"count":0,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/2182\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2182"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}