Hilton Grand Vacations Refinances Term Loan B
Hilton Grand Vacations Inc. (NYSE:HGV) announces today the successful refinance of its existing $849 million Term Loan B (“TLB”) due 2028 with an amended $850 million TLB due 2033. The TLB pricing remained unchanged at SOFR plus 200.
“This successful Term Loan B transaction reflects the strength of our capital markets platform and the confidence investors have in the company’s strategy and long-term growth outlook,” said Dan Mathewes, president and chief financial officer of Hilton Grand Vacations. “We were able to maintain attractive pricing while meaningfully pushing out maturities, allowing us to focus on the continued integration of our operating business.”
Proceeds of the issuance, net of fees, will be used to fully repay the existing TLB due 2028.
JP Morgan Chase Bank, N.A. served as lead arranger for the TLB refinance. Alston and Bird LLP and Nelson Mullins Riley & Scarborough LLP represented HGV as issuer counsel.
