Marriott Vacations Worldwide completes $460 million vacation ownership loan securitization
VAC•Marriott Vacations Worldwide completed a $460 million securitization of vacation ownership loans, with a blended interest rate of 5.91% and a gross advance rate of 98%. The transaction is backed by approximately $470 million in loans, and net proceeds will repay credit facility obligations and fund other general corporate purposes.
1. Securitization details
Marriott Vacations Worldwide completed a $460 million securitization of vacation ownership loans. The notes carry a blended interest rate of 5.91%, with a gross advance rate of 98%, and are backed by approximately $470 million of loans. Net proceeds will repay outstanding credit facility obligations and fund other general corporate purposes.
