HGV - Hilton Grand Vacations closes upsized and consolidated $750M warehouse facility

Hilton Grand Vacations (NYSE:HGV) completed an upsized $750M revolving warehouse facility, which will accommodate both right-to-use and deeded inventory. The main benchmark rate of the facility is 1-month term SOFR and includes customary used and unused fees, some of which will be based on the achievement of key ESG performance indicators. The maximum advance rate increased from 87.5% to 90% and the facility will have a revolving period ending May 2024, with final maturity in May 2025. This transaction marks the first time the company has incorporated ESG-based triggers into its pricing structure.

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Hilton Grand Vacations closes upsized and consolidated $750M warehouse facility