The high-yield notes are due 2032

Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A / Regulation S offering by Hilton Grand Vacations Borrower LLC and Hilton Grand Vacations Borrower Inc., both subsidiaries of Hilton Grand Vacations Inc. (HGV), of $900 million aggregate principal amount of their 6.625% senior secured notes due 2032.

Hilton Grand Vacations intends to use the net proceeds of the offering to fund the acquisition of Bluegreen Vacations Holding Corporation (BVH) and to repay certain outstanding indebtedness of BVH and pay related fees, costs, premiums and expenses.

HGV is a global timeshare company and is the exclusive vacation ownership partner of Hilton. With headquarters in Orlando, Florida, Hilton Grand Vacations develops, markets and operates a system of vacation ownership resorts in select vacation destinations.

BVH is a vacation ownership company that markets and sells vacation ownership interests and manages resorts in popular leisure and urban destinations, including Orlando, Panama City Beach, Las Vegas, the Smoky Mountains, Myrtle Beach, Charleston, the Branson, Missouri, area, Nashville and New Orleans, among others.

The Davis Polk capital markets team included partner Marcel Fausten and associate Dennis Chu. The finance team included partner David Hahn, counsel Andrei Takhteyev and associate Jenny Dai. Partner Michael Mollerus and associate Michael Mirabella provided tax advice. Counsel David A. Zilberberg provided environmental advice. Partner Matthew J. Bacal and associate Lachlan J. Forrester provided intellectual property advice. All members of the Davis Polk team are based in the New York office.