secwatch.observer — SEC 8-K summary
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Issuer:     MARRIOTT VACATIONS WORLDWIDE Corp (VAC)
CIK:        0001524358
Form:       8-K
Filed at:   2022-11-03T23:59:59+00:00
Accession:  0001524358-22-000037
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marriott Vacations completes $280M vacation loan securitization; weighted avg rate 6.58%
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- Issued $280M notes backed by $286M vacation ownership loans across four classes.
- Class A ($181M at 6.11%), B ($45M at 6.55%), C ($32M at 7.62%), D ($22M at 9.0%); MVW retained Class D.
- Proceeds: $259M from first three classes; $129M repaid warehouse facility, $124M for general corporate.
- Redeemed MVW 2016-1 securitization (approx $22M) with loans purchased by LLC.
- Weighted avg cost of funds for third-party notes 6.37%, overall weighted avg rate 6.58%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1524358/000152435822000037/0001524358-22-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1524358/000152435822000037/vac-20221103.htm
  HTML page:      https://secwatch.observer/filing/0001524358-22-000037

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer