Hilton Grand Vacations Successfully Reprices Term Loan B

By: Hilton Grand Vacations Inc. via Business Wire

July 18, 2024 at 16:15 PM EDT

Hilton Grand Vacations Inc. (NYSE:HGV) announces today the successful re-pricing of its existing $900 million Term Loan B, maturing Jan. 17, 2031. The new pricing will be SOFR plus 225 basis points, down from SOFR plus 275 basis points.

“We’re pleased with our continued execution and success on our capital markets platform, further reducing our spreads and borrowing costs,” said Dan Mathewes, president and chief financial officer of Hilton Grand Vacations. “Despite a volatile market, we continued to expand our investor base and generate nearly $4.5 million in annual savings.”

Proceeds of the issuance, net of fees, were used to reprice the existing Term Loan B due 2031.

Bank of America served as lead arranger and Simpson Thacher & Bartlett LLP represented HGV as issuer counsel.

Important Notice

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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 Orlando, Florida, Hilton Grand Vacations develops, markets, and operates a system of brand-name, high-quality vacation ownership resorts in select vacation destinations. Hilton Grand Vacations has a reputation for delivering a consistently exceptional standard of service, and unforgettable vacation experiences for guests and more than 700,000 Club Members. Membership with the Company provides best-in-class programs, exclusive services and maximum flexibility for our Members around the world.

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