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 $850 million aggregate principal amount of their 5.000% senior notes due 2029.

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

Hilton Grand Vacations 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 corporate team included partners Michael Kaplan and Marcel Fausten and associate Joze Vranicar. Counsel Kiara L. Rankin and associate Shay Moyal provided tax advice. Partner Jeong M. Lee, counsel David Hahn, associate Tom Wolfe and associate Courtney Sohn provided finance advice. All members of the Davis Polk team are based in the New York office.