secwatch.observer — SEC 8-K summary
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Issuer:     MARRIOTT VACATIONS WORLDWIDE Corp (VAC)
CIK:        0001524358
Form:       8-K
Filed at:   2022-12-06T23:59:59+00:00
Accession:  0001193125-22-298702
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marriott Vacations prices $500M 3.25% convertible senior notes due 2027, redeems higher-cost debt
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- Priced $500M of 3.25% convertible senior notes due December 2027; initial purchasers have option for additional $75M.
- Initial conversion price ~$189.65 per share (32.5% premium over Dec 5 close of $143.13).
- Net proceeds to redeem $6.125% secured notes due 2025 at 103.063% of principal, repay revolver, and repurchase ~0.384M shares at $143.13.
- Concurrently entered convertible note hedge and warrant transactions; closing expected December 8, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1524358/000119312522298702/0001193125-22-298702-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1524358/000119312522298702/d624200d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-298702

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