HGV refinances with $1.0B revolving credit facility, covenant eased to 4.25x

Hilton Grand Vacations Inc.

Entered Amendment No. 8 to Credit Agreement on Jan 31, 2025, establishing $1.0B new revolving credit facility maturing Jan 31, 2030.
Existing revolving commitments terminated; new facility margins range from 0.50%-0.95% (Base Rate) and 1.50%-1.95% (Term SOFR).
Consolidated First Lien Net Leverage Ratio covenant increased from 3.25x to 4.25x (subject to 0.50x increase after material acquisitions).
Applicable rates on Initial Term Loans reduced to 2.00% (Term Benchmark) and 1.00% (Base Rate); similar reductions for other term loans.
Bank of America resigned as Administrative Agent; Wells Fargo appointed as successor.

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