Hilton Grand Vacations Completes $300 Million Term Note Securitization
Hilton Grand Vacations Inc. (NYSE:HGV) announces today the completion of a $300 million securitization of timeshare loans through Hilton Grand Vacations Trust 2026-2 (“HGVT”). Four classes of Notes were issued by the Trust, including approximately $118.8 million of Class A Notes, approximately $98.6 million of Class B Notes, approximately $51.1 million of Class C Notes and approximately $31.5 million of Class D Notes.
“HGVT 2026-2 was an exceptionally strong execution, with broad investor participation and meaningful spread tightening across the capital stack,” said Dan Mathewes, president and chief financial officer of Hilton Grand Vacations. “Peak oversubscription reached nearly 9x, allowing us to achieve the tightest AAA spread in timeshare since January 2022, reflecting the strength and reliability of our ABS platform.”
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 Barclays, Deutsche Bank Securities, Truist Securities and Wells Fargo Securities. Academy Securities, BMO Capital Markets, CIBC Capital Markets, Citizens Capital Markets, Goldman Sachs & Co. LLC, HSBC, MUFG, Regions Securities LLC and Santander US Capital Markets served as Co-Managers. Alston and Bird LLP represented HGV as issuer counsel.
