Hilton Grand Vacations Announces Upsized and Consolidated $850 Million Warehouse Facility
Hilton Grand Vacations (NYSE:HGV) has closed an upsized $850 million revolving warehouse facility that will accommodate both deeded and trust inventory, including loans from recently acquired Bluegreen Vacations. The facility maintains a 90% maximum advance rate and will revolve until November 2026, with final maturity in November 2027. Bank of America continues as administrative agent, with participation from multiple major banks. This consolidation represents a significant milestone in integrating HGV's capital markets platforms following the Bluegreen acquisition in January 2024.
Hilton Grand Vacations (NYSE:HGV) ha concluso un ampliato finanziamento rotativo da 850 milioni di dollari che accoglierà sia l'inventario di proprietà che quello in fiducia, inclusi i prestiti della recentemente acquisita Bluegreen Vacations. Il finanziamento mantiene un'aliquota massima di anticipo del 90% e rimarrà attivo fino a novembre 2026, con scadenza finale a novembre 2027. Bank of America continua ad essere l'agente amministrativo, con la partecipazione di diverse grandi banche. Questa consolidazione rappresenta una pietra miliare significativa nell'integrazione delle piattaforme di mercati dei capitali di HGV a seguito dell'acquisizione di Bluegreen nel gennaio 2024.
Hilton Grand Vacations (NYSE:HGV) ha cerrado una línea de crédito rotativa ampliada de 850 millones de dólares que contendrá tanto inventario de propiedad como en fideicomiso, incluyendo préstamos de la recientemente adquirida Bluegreen Vacations. La línea mantiene una tasa máxima de avance del 90% y girará hasta noviembre de 2026, con vencimiento final en noviembre de 2027. Bank of America sigue siendo el agente administrativo, con la participación de varios bancos importantes. Esta consolidación representa un hito significativo en la integración de las plataformas de mercados de capital de HGV tras la adquisición de Bluegreen en enero de 2024.
힐튼 그랜드 베이케이션즈 (NYSE:HGV)는 8억 5천만 달러 규모의 확대된 회전 창고 시설을 종료했습니다. 이 시설은 최근 인수한 블루그린 베이케이션즈의 대출을 포함하여 소유권과 신탁 재고를 모두 수용합니다. 이 시설은 최대 90%의 선지급 비율을 유지하며 2026년 11월까지 회전하며, 최종 만기는 2027년 11월입니다. 뱅크 오브 아메리카는 여전히 관리 에이전트로 남아 있으며 여러 주요 은행이 참여하고 있습니다. 이 통합은 2024년 1월 블루그린 인수 이후 HGV의 자본 시장 플랫폼 통합에 있어 중요한 이정표를 나타냅니다.
Hilton Grand Vacations (NYSE:HGV) a conclu une facilité de crédit renouvelable élargie de 850 millions de dollars qui accueillera à la fois des inventaires de propriété et de fiducie, y compris des prêts de la récemment acquise Bluegreen Vacations. La facilité maintient un taux d'avance maximum de 90 % et sera renouvelable jusqu'en novembre 2026, avec une échéance finale en novembre 2027. Bank of America continue d'agir en tant qu'agent administratif, avec la participation de plusieurs grandes banques. Cette consolidation représente une étape importante dans l'intégration des plateformes de marchés de capitaux d'HGV suite à l'acquisition de Bluegreen en janvier 2024.
Hilton Grand Vacations (NYSE:HGV) hat eine erweiterte revolvierende Kreditfazilität in Höhe von 850 Millionen Dollar abgeschlossen, die sowohl Eigentum- als auch Treuhandinventar aufnehmen wird, einschließlich Darlehen der kürzlich übernommenen Bluegreen Vacations. Die Fazilität behält eine maximale Vorschussquote von 90 % und wird bis November 2026 rotieren, mit einer endgültigen Fälligkeit im November 2027. Die Bank of America bleibt als Verwaltungsagent tätig, mit Beteiligung mehrerer großer Banken. Diese Konsolidierung stellt einen bedeutenden Meilenstein bei der Integration von HGVs Kapitalmarktplattformen nach der Übernahme von Bluegreen im Januar 2024 dar.
- Secured substantial $850 million warehouse facility
- Maintains high 90% maximum advance rate
- Successfully integrated Bluegreen Vacations' loans into financing structure
- Strong banking consortium support with multiple major institutions
- None.
Insights
The consolidation and upsizing of HGV's warehouse facility to
The impressive syndicate of 11 major banks signals robust institutional confidence in HGV's credit profile and growth strategy. This consolidated facility streamlines HGV's capital structure while providing increased flexibility to finance both legacy HGV and newly acquired Bluegreen receivables under a single facility. The timing aligns well with HGV's integration plans and positions them to optimize their receivables financing costs.
The facility includes customary used and unused fees and the maximum advance rate remains at
“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 remains administrative agent of the facility, and the capital committed comes 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 and Bird LLP represented HGV as issuer counsel.
The Notes were offered in a private placement within the
Important Notice
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements convey management’s expectations as to the future of HGV, and are based on management’s beliefs, expectations, assumptions and such plans, estimates, projections and other information available to management at the time HGV makes such statements. Forward-looking statements include all statements that are not historical facts, and may be identified by terminology such as the words “outlook,” “believe,” “expect,” “potential,” “goal,” “continues,” “may,” “will,” “should,” “could,” “would,” “seeks,” “approximately,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “future,” “guidance,” “target,” or the negative version of these words or other comparable words, although not all forward-looking statements may contain such words. The forward-looking statements contained in this press release include statements related to HGV’s revenues, earnings, taxes, cash flow and related financial and operating measures, and expectations with respect to future operating, financial and business performance and other anticipated future events and expectations that are not historical facts. HGV cautions you that our forward-looking statements involve known and unknown risks, uncertainties and other factors, including those that are beyond HGV’s control, which may cause the actual results, performance or achievements to be materially different from the future results. Any one or more of these risks or uncertainties could adversely impact HGV’s operations, revenue, operating profits and margins, key business operational metrics, financial condition or credit rating. For a more detailed discussion of these factors, see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in HGV’s most recent Annual Report on Form 10-K, which may be supplemented and updated by the risk factors in HGV’s quarterly reports, current reports and other filings HGV makes with the SEC. HGV’s forward-looking statements speak only as of the date of this communication or as of the date they are made. HGV disclaims any intent or obligation to update any “forward-looking statement” made in this communication to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
About Hilton Grand Vacations Inc.
Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global timeshare company and is the exclusive vacation ownership partner of Hilton. With headquarters in
For more information, visit www.corporate.hgv.com. Follow us on Instagram, Facebook, LinkedIn, X (formerly Twitter), Pinterest and YouTube.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241114625126/en/
Investor Contact:
Mark Melnyk
407-613-3327
mark.melnyk@hgv.com
Media Contact:
Lauren George
407-613-8431
lauren.george@hgv.com
Source: Hilton Grand Vacations Inc.
FAQ
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