Bluegreen Vacations Holding Corporation Completes $214.6 Million Securitization of Vacation Ownership Receivables
The transaction consisted of the issuance of three tranches of notes (collectively, the “Notes”) with a weighted average coupon rate of approximately
“We believe that this securitization, along with our previously completed renewal and extension of our corporate credit facility, positions us well to support our initiatives and operations, as well as the continued growth of our business,” commented Ray Lopez, Chief Financial Officer and Chief Operating Officer of Bluegreen Vacations.
The transaction was completed in reliance upon Rule 144A and Regulation S as a private placement of securities not registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities law. All of such securities having been sold, this announcement of their sale appears as a matter of record only. The Notes have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in
KeyBanc Capital Markets Inc. (“KeyCM”) and BofA Securities, Inc. (“BofA”) acted as joint bookrunners and co-lead managers, and Truist Securities, Inc. (“Truist”), Citizens Capital Markets Inc. (“Citizens”) and Barclays Capital Inc. (“Barclays”) acted as co-managers. KeyCM also acted as structuring agent for the transaction. KeyCM, BofA, Truist, Citizens and Barclays were the initial purchasers of the Notes.
About Bluegreen Vacations: Bluegreen Vacations Holding Corporation (NYSE: BVH; OTCQX: BVHBB) is a leading vacation ownership company that markets and sells vacation ownership interests and manages resorts in popular leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with 71 Club and Club Associate Resorts and access to nearly 11,400 other hotels and resorts through partnerships and exchange networks.
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Bluegreen Vacations Holding Corporation: www.BVHCorp.com
This press release contains forward-looking statements. All opinions, forecasts, projections, future plans, or other statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements can be identified by the use of words or phrases such as “plans,” “believes,” “will,” “expects,” “anticipates,” “intends,” “estimates,” “our view,” “we see,” “would,” and words and phrases of similar import. The forward-looking statements in this press release are also forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based largely on the current expectations of the Company and are subject to a number of risks and uncertainties, including many which are beyond our control. We can give no assurance that such expectations will prove to be correct. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. . When considering forward-looking statements, the reader should keep in mind the risks, uncertainties, and other cautionary statements made in this report and in the Company’s other reports filed with the SEC. These risks and uncertainties include, but are not limited to, risks related to the Company’s operations, results, liquidity, financial condition, growth and other initiatives, and business model, including the market’s perception thereof and the impact of the securitization described in this press release thereon, that the Company may not realize the benefits of the securitization to the extent anticipated or at all, that the future use of proceeds from the securitization may differ from the currently anticipated use, that the Company’s receivable loan portfolio won’t perform as anticipated; and the additional risks and uncertainties described in the Company's filings with the SEC, including, without limitation, the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (including the “Risk Factors” section thereof), which was filed on March 13, 2023, and the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2023, which was filed on May 4, 2023. The Company cautions that the foregoing factors are not exclusive. You should not place undue reliance on any forward-looking statement, which speaks only as of the date made. The Company does not undertake, and specifically disclaims any obligation, to update or supplement any forward-looking statements.
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Bluegreen Vacations Holding Corporation Contact Info
Investor Relations: Leo Hinkley, Managing Director, Investor Relations Officer
Telephone: 954-399-7193
Email: Leo.Hinkley@BVHcorp.com
Source: Bluegreen Vacations Holding Corporation
