Pursuit Attractions and Hospitality has amended its 2025 credit facility, dated Jan. 3, 2025, to increase the borrowing capacity on its revolving credit facility by $100 million and extend the term by approximately nine months (to Sept. 25, 2030).
“This upsized revolving credit facility meaningfully enhances our financial flexibility, allowing us to accelerate execution of our ‘refresh, build, buy’ strategy,” David Barry, president and CEO of Pursuit, said. “With a strong balance sheet, a robust pipeline of acquisition opportunities, and over $250 million of identified organic growth investments, Pursuit is well-positioned to drive sustained shareholder value and capitalize on strategic growth opportunities.”
The terms of the amended credit agreement also increased the maximum net leverage ratio to 3.0x (from 2.5x), removed the additional 10 basis point credit spread adjustment on SOFR borrowings, and added the recently acquired Tabacón Thermal Resort & Spa as a co-borrower.
The credit facility amendment was led by Bank of America, with participation from BMO, KeyBank and Truist Bank.
“We are thankful to have the support of our banking partners as we continue to execute our proven growth strategy to drive long-term shareholder value,” Barry said. “Their continued and expanded commitment underscores their confidence in Pursuit’s financial model and future growth prospects.”
