Vail Resorts Enters Material Definitive Agreement

TL;DR

Vail Resorts just signed a big deal, could be debt or something else important.

AI Summary

Vail Resorts, Inc. entered into a material definitive agreement on May 8, 2024, related to a financial obligation. The company also filed financial statements and exhibits as part of this report. Specific details of the agreement and financial obligation are not fully disclosed in the provided text, but it constitutes a significant event for the company.

Why It Matters

This filing indicates a significant new financial commitment or agreement for Vail Resorts, which could impact its financial health and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting potential financial risks or opportunities that are not fully detailed.

Key Players & Entities

• Vail Resorts, Inc. (company) — Registrant
• May 8, 2024 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• 390 Interlocken Crescent (address) — Principal Executive Offices
• Broomfield, Colorado 80021 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value MTN New York Stock Exchange
• $600 million — the "Company") completed an offering of $600 million in aggregate principal amount of its 6.

Filing Documents

• mtn-20240508.htm (8-K) — 30KB
• vailresorts-indenture2024.htm (EX-4.1) — 898KB
• 0000812011-24-000050.txt ( ) — 1202KB
• mtn-20240508.xsd (EX-101.SCH) — 2KB
• mtn-20240508_lab.xml (EX-101.LAB) — 22KB
• mtn-20240508_pre.xml (EX-101.PRE) — 13KB
• mtn-20240508_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On May 8, 2024, Vail Resorts, Inc. (the "Company") completed an offering of $600 million in aggregate principal amount of its 6.500% Senior Notes due 2032 (the "Notes") in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. The Notes are guaranteed on a senior subordinated basis by certain of the Company's domestic subsidiaries (collectively, the "Guarantors"). The Notes were issued under an Indenture dated as of May 8, 2024 (the "Indenture") among the Company, the Guarantors and U.S. Bank Trust Company, National Association, as Trustee. The Notes bear interest at a rate of 6.500% per annum and were priced at 100% of par. The Company will pay interest on the Notes on May 15 and November 15 of each year commencing on November 15, 2024. The Notes will mature on May 15, 2032. The Notes are redeemable, in whole or in part, at any time on or after May 15, 2027 at the redemption prices specified in the Indenture plus accrued and unpaid interest, if any, to, but excluding, the redemption date. Prior to May 15, 2027, the Company may redeem some or all of the Notes at a redemption price of 100% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, plus a "make-whole" premium as specified in the Indenture. In addition, prior to May 15, 2027, the Company may redeem up to 40% of the aggregate principal amount of the Notes with an amount not to exceed the net cash proceeds from certain equity offerings at the redemption price of 106.500% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The Notes are senior unsecured obligations of the Company and rank equally in right of payment with existing and future senior indebtedness of the Company and the Guarantors. The Indenture requires that, upon the occurrence of a Change of

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation. The information in Item 1.01 of this Current Report is incorporated by reference into this Item 2.03.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4.1 Indenture, dated May 8, 2024, by and among Vail Resorts, Inc., the Guarantors named therein and U.S. Bank Trust Company, National Association, as Trustee. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Vail Resorts, Inc. Date: May 8, 2024 By: /s/ Angela A. Korch Angela A. Korch Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR