Pursuit increases credit facility to $300 million, extends term to 2030

Pursuit Attractions and Hospitality Inc. (NYSE: PRSU) amended its credit facility to increase borrowing capacity by $100 million to a total of $300 million and extended the term by approximately nine months to September 25, 2030.

The Denver-based company also modified the terms to increase the maximum net leverage ratio to 3.0x from 2.5x, removed a 10 basis point credit spread adjustment on SOFR borrowings, and added Tabacón Thermal Resort & Spa as a co-borrower following its recent acquisition.

Bank of America led the credit facility amendment with participation from BMO, KeyBank National Association, and Truist Bank.

"This upsized revolving credit facility meaningfully enhances our financial flexibility, allowing us to accelerate execution of our Refresh, Build, Buy strategy," said David Barry, Pursuit's president and chief executive officer.

The company stated it has over $250 million of identified organic growth investments and maintains a pipeline of acquisition opportunities. Pursuit operates attractions and hospitality experiences across the United States, Canada, Iceland, and Costa Rica, including 17 attractions and 29 lodges.

The information was disclosed in a company press release.

You May Also Be Interested In

• BofA survey shows European fund managers eye growth despite caution
• Nebius Group prices upsized $5B convertible notes offering
• SpaceX held talks to acquire AI coding startup Cognition - report