We advised the bookrunners and co-managers on the high-yield debt offering

Davis Polk advised the bookrunners and co-managers in connection with the offering by Hilton Grand Vacations Borrower Escrow LLC and Hilton Grand Vacations Borrower Escrow Inc., both subsidiaries of Hilton Grand Vacations Inc. (“HGV”), of $500 million aggregate principal amount of their 4.875% senior notes due 2031.

Upon satisfaction of certain escrow conditions, the proceeds of the notes will be used to fund the acquisition of Dakota Holdings, Inc., fund certain outstanding HGV and Dakota Holdings indebtedness and pay related fees, costs, premiums and expenses.

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 D.C., South Carolina, Barbados and Mexico.

The Davis Polk corporate team included partners Michael Kaplan and Marcel Fausten and associate Michael Stromquist. Counsel Kiara L. Rankin and associate Shay Moyal provided tax advice. Counsel Loyti Cheng and associate Cristina Harshman provided environmental advice. Members of the Davis Polk team are based in the New York and Washington DC offices.