Hilton Grand Vacations Completes $240 Million Term Securitization | Placera
Summary
This highlights the strength of our brand and market position as we nearly quadrupled Bluegreen Vacations historical investor base on HGVs first securitization of Bluegreen Vacations collateral, further positioning us to execute on our sales and marketing initiatives.Proceeds of the issuance, net of fees, will be used to pay down debt and for other general corporate purposes.This transaction marks HGVs tenth term securitization of timeshare loans, and the first issuance of legacy Bluegreen Vacations collateral under the HGVT issuance shelf. Alston and 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. These forward looking statements involve substantial risks and uncertainties that could cause the outcome to be materially different, including the material impact of the COVID-19 pandemic on the Companys business, operating results and financial condition, general economic conditions, the actual timing and status of, or any disruptions to, the re-opening of the Companys properties, as well as those factors that are discussed under the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of the Companys most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that may update or supplement such disclosure. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Companys other filings with the Securities and Exchange Commission. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, except as required by law.Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global timeshare company and is the exclusive vacation ownership partner of Hilton.