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Business Wire
21 hours ago
- Business
- Business Wire
Hilton Grand Vacations Completes $400 Million Term Note Securitization
ORLANDO, Fla.--(BUSINESS WIRE)-- Hilton Grand Vacations Inc. (NYSE:HGV) announces today the completion of a $400 million securitization of timeshare loans through Hilton Grand Vacations Trust 2025-2 ('the Trust'). Three classes of Notes were issued by the Trust, including approximately $210.4 million of Class A Notes, approximately $125.0 million of Class B Notes and approximately $64.6 million of Class C Notes. The Class A Notes have a coupon rate of 4.54%, the Class B Notes have a coupon rate of 4.73%, and the Class C Notes have a coupon rate of 5.12%, for an overall weighted average coupon rate of 4.69%, and an overall advance rate of 96%. 'We're incredibly pleased with the success of this transaction, which achieved the tightest weighted average spread seen in the timeshare ABS market in recent years,' said Dan Mathewes, president and chief financial officer of Hilton Grand Vacations. 'This execution reflects our ongoing focus on optimizing our financing business, reinforcing our ability to efficiently generate cash flow, supporting greater capital returns.' Proceeds of the issuance, net of fees, will be used to pay down debt and for other general corporate purposes. BofA Securities served as the Structuring Lead Manager and Joint Bookrunner along with Wells Fargo Securities, Deutsche Bank Securities, Citizens Capital Markets and Truist Securities. Barclays, CIBC Capital Markets, Drexel Hamilton, Goldman Sachs & Co. LLC, HSBC, MUFG and Regions Securities LLC served as Co-Managers. Alston and Bird LLP represented HGV as issuer counsel. The Notes were offered in a private placement within the U.S. to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act') and outside the U.S. to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or any state securities laws and therefore may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release is an announcement of record only and does not constitute an offer to sell or the solicitation of an offer to buy the Notes, all of which have been sold. Certain classes of the transaction were rated by Standard & Poor's Financial Services LLC (S&P) and Fitch Ratings (Fitch). 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 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 nearly 725,000 Club Members. Membership with the Company provides best-in-class programs, exclusive services and maximum flexibility for our Members around the world.
Business Wire
11-07-2025
- Business
- Business Wire
Hilton Grand Vacations Completes ¥9.5188 Billion Term Securitization
ORLANDO, Fla.--(BUSINESS WIRE)-- Hilton Grand Vacations Inc. (NYSE:HGV) announces today the completion of a ¥9.5188 billion securitization of timeshare loans through Hilton Grand Vacations Japan Trust 2025-1 ('the Trust' or 'SMRAI'). One class of Notes were issued by the Trust, bearing a rating of AAA by Standard & Poor's. The Note has a coupon rate of 1.41%. 'This achievement represents the culmination of decades of effort, underscoring not only the strength of our industry-leading presence in Japan but also the power of our team's ability to collaborate and deliver results on a global scale,' said Mark Wang, CEO of Hilton Grand Vacations. 'I want to extend my congratulations to everyone involved in bringing this landmark deal to life.' HGV has nearly 75,000 members in Japan and currently operates two world-class properties across the country: The Beach Resort Sesoko, a Hilton Club, which opened in October 2021, and The Bay Forest Odawara, a Hilton Club, which opened in 2018. The company's latest addition, Tradimo Kyoto Gojo, a Hilton Grand Vacations Club, anticipated to be completed in the first quarter of 2026, will feature 63 modern one-bedroom timeshare units. This new property will be ideally located in the historic Kyoto tourism and business district. 'This deal marks an exciting milestone as it builds on our financing business optimization strategy and demonstrates our ability to execute novel and complex cross-border transactions,' said Dan Mathewes, president and chief financial officer of Hilton Grand Vacations. 'Although modest in scale to start, this deal unlocks access to highly cost-effective capital. As the program grows, it offers a source of inexpensive capital and creates a unique opportunity to generate highly accretive returns through share repurchases coupled with inexpensive financing.' Proceeds of the issuance, net of fees, will be used for general corporate purposes. MUFG served as the Structuring Lead Manager and Bookrunner. Greenberg Traurig, LLP (Tokyo), and Alston and Bird LLP represented HGV as issuer counsel. 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 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 nearly 725,000 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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Business Wire
18-06-2025
- Business
- Business Wire
Hilton Grand Vacations Completes $300 Million Term Securitization
ORLANDO, Fla.--(BUSINESS WIRE)-- Hilton Grand Vacations Inc. (NYSE:HGV) announces today the completion of a $300 million securitization of timeshare loans through Hilton Grand Vacations Trust 2025-1 ('the Trust' or 'HGVT'). Three classes of Notes were issued by the Trust, including approximately $166.5 million of Class A Notes, approximately $87 million of Class B Notes and approximately $46.5 million of Class C Notes. The Class A Notes have a coupon rate of 4.88%, the Class B Notes have a coupon rate of 5.18%, and the Class C Notes have a coupon rate of 5.52%, for an overall weighted average coupon rate of 5.07%, and an overall advance rate of 97%. 'We continue to see robust investor demand for paper issued on our HGVT platform with peak oversubscription reaching approximately 12x during the marketing process,' said Dan Mathewes, president and chief financial officer of Hilton Grand Vacations. 'The ability to issue notes at attractive rates in this environment is testament to the strength of the platform and our ability to monetize our financing business to benefit our shareholders.' Proceeds of the issuance, net of fees, will be used to pay down debt and for other general corporate purposes. Wells Fargo Securities served as the Structuring Lead Manager and Joint Bookrunner along with BofA Securities, Deutsche Bank Securities, Barclays, Goldman Sachs & Co. LLC, and Truist Securities. CIBC Capital Markets, Citizens Capital Markets, HSBC, MUFG, Regions Securities LLC, and R. Seelaus & Co., LLC served as a Co-Managers. Alston and Bird LLP represented HGV as issuer counsel. The Notes were offered in a private placement within the U.S. to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act') and outside the U.S. to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or any state securities laws and therefore may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release is an announcement of record only and does not constitute an offer to sell or the solicitation of an offer to buy the Notes, all of which have been sold. Certain classes of the transaction were rated by Standard & Poor's Financial Services LLC (S&P) and Fitch Ratings (Fitch). 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 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 nearly 725,000 Club Members. Membership with the Company provides best-in-class programs, exclusive services and maximum flexibility for our Members around the world.
