HGV prices $900M 6.625% senior secured notes due 2032 to finance Bluegreen acquisition

Hilton Grand Vacations Inc.

Priced $900M aggregate principal of 6.625% senior secured notes due 2032; expected close Jan 17, 2024.
Proceeds will finance the pending $1.5B acquisition of Bluegreen Vacations (BVH) at $75/share in cash.
Upon acquisition close, notes will be issued by surviving issuers and secured by substantially all assets of the company.
If not concurrent, proceeds held in escrow until conditions met; HGV subsidiary guarantees interest payments.
Net proceeds also used to repay certain outstanding indebtedness and pay related fees and expenses.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Hilton Grand Vacations Inc. entered into Purchase Agreement with the several initial purchasers party thereto valued at $900 million (effective 2024-01-10).

Action: entry
Agreement: notes offering
Counterparty: the several initial purchasers party thereto
Value: $900 million
Effective: 2024-01-10

Exact text from the filing

On January 10, 2024, Hilton Grand Vacations Borrower Escrow, LLC (the “Escrow Issuer”), Hilton Grand Vacations Borrower Escrow, Inc. (the “Escrow Co-Issuer” and, together with the Escrow Issuer, the “Escrow Issuers”) and Hilton Grand Vacations Borrower LLC (the “Escrow Guarantor”), in its capacity as provider of the HGV Escrow Guarantee (as defined below), each a wholly-owned subsidiary of Hilton Grand Vacations Inc. (the “Company”), entered into a purchase agreement (the “Purchase Agreement”) with the several initial purchasers party thereto (collectively, the “Initial Purchasers”), in connection with the offer and sale of $900 million aggregate principal amount of the Escrow Issuers’ 6.625% Senior Secured Notes due 2032 (the “Notes”) in a private offering (the “Offering”)

View on SEC.gov

Browse all material agreements →

Hilton Grand Vacations Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-006124

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.