Hilton Grand Vacations unveils $900 million acquisition notes
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©Reuters. ORLANDO – Hilton Grand Vacations (NYSE: HGV), a leading global vacation ownership company, has commenced a private placement of $900 million of senior secured notes due 2032. The move is part of the company’s financial strategy to acquire Bluegreen Vacations Holding Corporation (BVH). The transaction was announced on November 6, 2023.
Hilton Grand Vacations intends to use the net proceeds from the offering to fund the acquisition of BVH, and the parties have agreed to an all-cash transaction at $75 per share, valued at approximately $100 to $5 billion, including net debt. In addition, the funds will be used to repay certain existing debt and pay related fees and transaction costs.
The notes are available to qualified institutional buyers and non-U.S. persons. Persons outside the United States are subject to Regulation S under the Securities Act.
This article is based on a press release from Hilton Grand Vacations Inc.
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