Marriott Vacations Worldwide subsidiary issues $575M 6.500% Senior Notes due 2033

MARRIOTT VACATIONS WORLDWIDE Corp

Issuer Marriott Ownership Resorts, Inc. issued $575M aggregate principal of 6.500% Senior Notes due 2033.
Net proceeds will be used to repay $575M of 0.00% Convertible Senior Notes due January 15, 2026.
Notes are guaranteed by Marriott Vacations Worldwide and certain subsidiaries; Delayed Draw Term Loan terminated.
Interest payable semi-annually at 6.500% with first payment April 1, 2026; maturity October 1, 2033.
Indenture includes covenants limiting additional debt, dividends, liens, mergers; customary events of default.

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