Hilton Grand Vacations

Hilton Grand Vacations replaced an existing $849 million term loan maturing in 2028 with a new $850 million term loan maturing in 2033. The interest rate remains at SOFR plus 200 basis points, and net proceeds will be used to fully repay the 2028 loan. The company reports a strong liquidity position with a current ratio of 4.09; total debt stands at $7.4 billion against annual revenue of $4.63 billion. JP Morgan Chase Bank acted as lead arranger; the issuers were legally represented by Alston and Bird and by Nelson Mullins. » Altro su de.investing.com

Hilton Grand Vacations securitized $300 million of timeshare loans through the Hilton Grand Vacations Trust 2026-2 and issued four note tranches (A: $118.8m; B: $98.6m; C: $51.1m; D: $31.5m). The tranches carry coupons from 4.83% to 6.00%, with a weighted average coupon of 5.16% and a financing rate of 98%. Proceeds will be used to repay debt and for general corporate purposes; the company said the deal was nearly nine times oversubscribed and achieved the tightest AAA spread in the timeshare sector since January 2022. » Altro su de.investing.com

Goldman Sachs upgraded Hilton Grand Vacations to Neutral from Sell and lifted its price target to $55, citing early benefits from HGV Max and a reduced inventory overhang after the Bluegreen acquisition. The bank said HGV’s earnings power is likely understated in Street estimates and took a more constructive view on the timeshare sector. Hilton Grand Vacations also closed an upsized $1B revolving warehouse facility to May 2028 (final maturity May 2029) with a 90% max advance, and Truist separately raised its price target to $71 while keeping a Buy rating. » Altro su finance.yahoo.com