ORLANDO, Fla.–(DWPR)–Hilton Grand Vacations Inc. (NYSE:HGV) announced the closing of an upsized $850 million revolving warehouse facility. The facility will accommodate both deeded and trust inventory, including loans from legacy Bluegreen Vacations, which HGV acquired in January 2024.
The facility includes customary used and unused fees, with the maximum advance rate remaining at 90%. Its revolving period will conclude in November 2026, with final maturity in November 2027.
“We are pleased to complete this significant milestone in integrating our capital markets platforms,” said Dan Mathewes, President and Chief Financial Officer of Hilton Grand Vacations. “We appreciate the ongoing support from our lenders and the increased capital commitments, which continue to position us for future success.”
Bank of America serves as the administrative agent for the facility, which includes capital commitments from Bank of America, Wells Fargo Bank, Deutsche Bank Securities, Truist Bank, Barclays, Goldman Sachs, MUFG Bank, Citizens Bank, Regions Bank, HSBC Bank, and CIBC Bank. Alston & Bird LLP represented HGV as issuer counsel.
The Notes were offered in a private placement within the U.S. to qualified institutional buyers pursuant to Rule 144A and outside the U.S. in accordance with Regulation S under the Securities Act of 1933, as amended. Certain classes of the transaction were rated by Standard & Poor’s and Fitch Ratings.
Important Notice: This press release contains forward-looking statements regarding HGV’s financial performance, future operating strategies, and risk factors. For more information, refer to HGV’s Annual Report on Form 10-K and other filings with the SEC.
About Hilton Grand Vacations Inc.
Hilton Grand Vacations Inc. (NYSE:HGV) is a leading global timeshare company and the exclusive vacation ownership partner of Hilton. Headquartered in Orlando, Florida, HGV develops, markets, and operates high-quality vacation ownership resorts in premier destinations worldwide. With approximately 720,000 Club Members, HGV delivers unforgettable vacation experiences and world-class services. Visit hgv.com for more information.
Contacts
Investor Contact:
Mark Melnyk
Phone: 407-613-3327
Email: [email protected]
Media Contact:
Lauren George
Phone: 407-613-8431
Email: [email protected]