Hilton Grand Vacations Inc. (NYSE:HGV) (“HGV” or “the Company”) has priced an offering of $900 million aggregate principal amount of new 6.625% senior secured notes due 2032 (the “notes”) to be issued by its wholly-owned subsidiaries, Hilton Grand Vacations Borrower Escrow, LLC and Hilton Grand Vacations Borrower Escrow, Inc. (the “Offering”). To the extent the Offering closes concurrently with the Acquisition (as defined below), the notes will be issued by Hilton Grand Vacations Borrower LLC and Hilton Grand Vacations Borrower Inc. (together, the “surviving issuers”) instead of Hilton Grand Vacations Borrower Escrow, LLC and Hilton Grand Vacations Borrower Escrow, Inc.
The notes will mature on Jan. 15, 2032. The Offering is expected to close on Jan. 17, 2024, subject to customary closing conditions.
The private Offering is part of the financing for the Company’s proposed acquisition (the “Acquisition”) of Bluegreen Vacations Holding Corporation (“BVH”) and is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).
