Vail Resorts Files 8-K for Material Definitive Agreement

TL;DR

Vail Resorts just filed an 8-K for a material definitive agreement - likely a new debt or partnership.

AI Summary

On April 24, 2024, Vail Resorts, Inc. entered into a material definitive agreement related to a financial obligation. The company, headquartered in Broomfield, Colorado, filed this 8-K report to disclose the event.

Why It Matters

This filing indicates a significant financial or contractual event for Vail Resorts, which could impact its financial obligations and operational structure.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

• Vail Resorts, Inc. (company) — Registrant
• April 24, 2024 (date) — Date of earliest event reported
• Broomfield, Colorado (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value MTN New York Stock Exchange
• $600.0 million — ject to market and other conditions, of $600.0 million in aggregate principal amount of senior

Filing Documents

• mtn-20240424.htm (8-K) — 30KB
• pressrelease20240424notesl.htm (EX-99.1) — 8KB
• vail.jpg (GRAPHIC) — 82KB
• 0000812011-24-000045.txt ( ) — 278KB
• mtn-20240424.xsd (EX-101.SCH) — 2KB
• mtn-20240424_lab.xml (EX-101.LAB) — 22KB
• mtn-20240424_pre.xml (EX-101.PRE) — 13KB
• mtn-20240424_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On April 24, 2024, Vail Holdings, Inc., a Colorado corporation (the "Borrower") and a wholly-owned subsidiary of Vail Resorts, Inc. (the "Company"), a Delaware corporation, certain subsidiaries of the Company and the Company, as guarantors, Bank of America, N.A., as administrative agent, and certain Lenders entered into an amendment and restatement of the Eighth Amended and Restated Credit Agreement, dated as of August 15, 2018 (as so amended and restated, the "Ninth A&R Credit Agreement"). The Ninth A&R Credit Agreement, among other things, extends the maturity date of the revolver and the term loan facilities to the earlier of (i) April 24, 2029 and (ii) the date that is ninety days prior to the maturity of the Company's 6.250% senior notes due 2025, so long as such notes remain outstanding. The description above is only a summary of the Ninth A&R Credit Agreement and is qualified in its entirety by reference to the Ninth A&R Credit Agreement, a copy of which will be filed in accordance with the rules of the Securities and Exchange Commission.

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation. The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

01. Other Events

Item 8.01. Other Events. On April 24, 2024, the Company announced that it intends to commence a private offering to eligible purchasers, subject to market and other conditions, of $600.0 million in aggregate principal amount of senior notes due 2032 (the "Senior Notes"). The Company also announced it intends to use the proceeds from the Senior Notes offering to fund the redemption of all $600.0 million of its outstanding 6.250% senior notes due 2025 at a redemption price equal to 100% of their principal amount. This Current Report on Form 8-K is not an offer to sell or a solicitation of an offer to buy any of the Senior Notes, nor shall there be any sales of the Senior Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This Current Report on Form 8-K does not constitute a notice of redemption with respect to the Company's outstanding 6.250% senior notes due 2025. A copy of the press release issued in connection therewith is attached hereto as Exhibit 99.1. Certain statements discussed in this report, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to unanticipated developments that prevent, delay or negatively impact the offering and other financial, operational and legal risks and uncertainties detailed from time to time in the Company's cautionary statements contained in its filings with the Securities and Exchange Commission. All forward-looking statements are expressly qualified in their entirety by these cautionary st

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release, dated April 24, 2024. 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: April 24, 2024 By: /s/ Angela A. Korch Angela A. Korch Executive Vice President and Chief Financial Officer