Hilton Grand Vacations sets $1.28 billion term B at SOFR plus 275 bps

By Sara Rosenberg

New York, Sept. 29 – Hilton Grand Vacations Borrower LLC firmed pricing on its $1.277 billion term loan B (Ba1/BBB-/BBB-) due Aug. 2, 2028 at SOFR plus 275 basis points, the high end of the SOFR plus 250 bps to 275 bps talk, according to a market source.

The term loan still has a 0% floor, ARRC CSA of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, a par issue price and 101 soft call protection for six months.

BofA Securities Inc., Barclays, Deutsche Bank Securities Inc., JPMorgan Chase Bank, MUFG, Wells Fargo Securities LLC, Goldman Sachs Bank USA, Citizens Bank, Regions Bank, Truist Securities, CIBC, Fifth Third and HSBC Securities (USA) Inc. are the arrangers on the deal.

Proceeds will be used to reprice an existing term loan B due 2028 down from SOFR plus 300 bps with a 0.5% floor.

Hilton Grand Vacations is an Orlando, Fla.-based timeshare company.

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