Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
MARRIOTT VACATIONS WORLDWIDE Corp incurred term loan of $800 million with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders party thereto at secured overnight financing rate plus 2.25% maturing April 1, 2031.
- Instrument
- term loan
- Principal
- $800 million
- Counterparty
- JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders party thereto
- Rate
- secured overnight financing rate plus 2.25%
- Maturity
- April 1, 2031
- Event
- incurrence
Exact text from the filing
The 2024 Amendment, among other things, provides for a new $800 million term loan facility scheduled to mature on April 1, 2031 (the “New Term Loan”) that refinanced in full the existing term loan under the Credit Agreement, which was due to mature on August 31, 2025.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
MARRIOTT VACATIONS WORLDWIDE Corp amended Incremental Facility Amendment and Amendment No. 3 with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders party thereto valued at $800 million (effective 2024-04-01).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders party thereto
- Value
- $800 million
- Effective
- 2024-04-01
Exact text from the filing
On April 1, 2024, Marriott Vacations Worldwide Corporation (“MVW”), Marriott Ownership Resorts, Inc. (“MORI”) and certain other of MVW’s subsidiaries entered into an Incremental Facility Amendment and Amendment No. 3 (the “2024 Amendment”) to the Credit Agreement, dated as of August 31, 2018, among MVW, MORI, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders party thereto (the “Credit Agreement”).
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