Hilton Grand Vacations Inc.’s $750 Million Revolving Warehouse Facility

Alston & Bird advised Hilton Grand Vacations Inc. on the deal.

Hilton Grand Vacations Inc. has completed an upsized revolving warehouse facility for $750 million, which will accommodate both right-to-use and deeded inventory. 

The main benchmark rate of the facility is a one-month term secured overnight financing rate and includes customary used and unused fees, some of which will be based on the achievement of key environmental, social, and governance performance indicators. The maximum advance rate increased from 87.5% to 90% and the facility will have a revolving period ending May 2024, with final maturity in May 2025.

Advising Hilton Grand Vacations on the transaction was an Alston & Bird team led by partners Tara Castillo (Picture) and Alex Park (Capital Markets & Securities); and assisted by partner Mark Harris, senior associate Anna French, associates Krishna Pathak and Aryeh Wolosow, and paralegal Kaleigh Spires (Finance); partner Jonathan Rose (Employee Benefits & Executive Compensation); partner Will Sugden, counsel William Hao, and senior associate Jacob Johnson (Financial Restructuring & Reorganization); partner Julie Mediamolle and senior associate Bhanu Mathur (Capital Markets & Securities); and partner Clay Littlefield (Federal & International Tax).

Involved fees earner: Tara Castillo – Alston & Bird LLP; Anna French – Alston & Bird LLP; William Hao – Alston & Bird LLP; Mark Harris – Alston & Bird LLP; Jacob Johnson – Alston & Bird LLP; Clay Littlefield – Alston & Bird LLP; Bhanu Mathur – Alston & Bird LLP; Julie Mediamolle – Alston & Bird LLP; Alexander Park – Alston & Bird LLP; Krishna Pathak – Alston & Bird LLP; Jonathan Rose – Alston & Bird LLP; William Sugden – Alston & Bird LLP;

Law Firms: Alston & Bird LLP;

Clients: Hilton Grand Vacations Inc.;

Martina Bellini

Author: Martina Bellini