Hilton Grand Vacations refinances $850M term loan, extends to 2033

Hilton Grand Vacations Inc. (NYSE: HGV) has refinanced its existing $849 million Term Loan B, due in 2028, with a new $850 million Term Loan B maturing in 2033, according to a company statement.

The pricing on the new loan remained unchanged at SOFR plus 200 basis points. Proceeds from the issuance, net of fees, will be used to fully repay the existing term loan due 2028.

Dan Mathewes, president and chief financial officer of Hilton Grand Vacations, commented on the transaction: "We were able to maintain attractive pricing while meaningfully pushing out maturities, allowing us to focus on the continued integration of our operating business."

JPMorgan Chase Bank, N.A. served as lead arranger for the refinancing. Alston and Bird LLP and Nelson Mullins Riley & Scarborough LLP represented HGV as issuer counsel.

Hilton Grand Vacations is headquartered in Orlando, Florida, and operates vacation ownership resorts across various destinations.

You May Also Be Interested In

• Wetour Robotics outlines Orchestra AI hub for wearable devices
• Increasing unusual option volume: IMAX TEL AVTR GDS ICLN ACI LXU MDY TRDX
• Coca-Cola (KO) call put ratio 4.7 calls to 1 put into quarter results