Hilton Grand Vacations $1 billion incremental revolving credit facility
We advised the agent on the financing
Davis Polk advised the administrative agent and collateral agent in connection with an amendment providing for $1 billion of incremental revolving commitments under Hilton Grand Vacations Inc.’s (“HGV”) senior secured term loan credit facility. The incremental revolving commitments will be used to repay HGV’s existing revolving credit facility and for general corporate purposes.
HGV is a timeshare company that markets and sells vacation ownership intervals, manages resorts in top leisure and urban destinations and operates a points-based vacation exchange program, comprising 62 managed properties primarily located in vacation destinations such as Orlando, Las Vegas, the Hawaiian Islands, New York City, Washington DC, South Carolina, Barbados and Mexico.
The Davis Polk finance team included partner David Hahn and associates Matthew J. Wiener, Davea Livingstone and Ian Kitts. All members of the Davis Polk team are based in the New York office.