Marriott Vacations: No debt is due until $230 million matures in 2022

By Devika Patel

Knoxville, Tenn., May 6 – Marriott Vacations Worldwide Corp. reported that it has no debt maturing until its $230 million convertible bonds come due in 2022.

“We have no corporate debt maturities until September 2022, which is our 2017 convertible note, and that’s only $230 million,” president and chief financial officer John E. Geller Jr. said on the company’s first quarter ended March 31 earnings conference call on Thursday.

On March 31, cash and cash equivalents totaled $643 million.

The company had $4.4 billion in debt outstanding, net of unamortized debt issuance costs, at the end of the first quarter of 2021.

Marriott Vacations is an Orlando, Fla.-based vacation ownership, exchange, rental, and resort and property management services provider.

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