Marriott Vacations Worldwide Completes $445 Million Term Securitization
Marriott Vacations Worldwide Corporation (VAC)
Last marriott vacations worldwide corporation earnings: 2/26 04:15 pm
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Source: Business Wire
ORLANDO, Fla.--(BUSINESS WIRE)--Marriott Vacations Worldwide Corporation (NYSE: VAC) (“MVW” or the “Company”) announced today the completion of a $445 million securitization of vacation ownership loans, offered to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States in accordance with Regulation S under the Securities Act of 1933, as amended. The notes were issued by MVW 2024-2 LLC (the “Issuer”). The notes have a blended interest rate of 4.52% and a gross advance rate of 98%.“We are very pleased with the strong investor demand for this offering. That and the current interest rate environment resulted in a blended interest rate nearly 200 basis points lower than our November 2023 transaction,” said Jason Marino, executive vice president and chief financial officer.The transaction was backed by a pool of approximately $454 million of vacation ownership loans from a variety of the Company’s timeshare brands. Three classes of notes w
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News
- Some May Be Optimistic About Marriott Vacations Worldwide's (NYSE:VAC) Earnings [Yahoo! Finance]Yahoo! Finance
- Marriott Vacations Worldwide Co. (NYSE: VAC) had its price target raised by analysts at Mizuho from $110.00 to $117.00. They now have an "outperform" rating on the stock.MarketBeat
- Marriott Vacations Worldwide Co. (NYSE: VAC) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Marriott Vacations Worldwide Co. (NYSE: VAC) had its price target raised by analysts at Barclays PLC from $74.00 to $97.00. They now have an "equal weight" rating on the stock.MarketBeat
- Marriott Vacations Worldwide Third Quarter 2024 Earnings: Beats Expectations [Yahoo! Finance]Yahoo! Finance
VAC
Earnings
- 11/6/24 - Beat
VAC
Sec Filings
- 11/14/24 - Form 4
- 11/13/24 - Form 144
- 11/7/24 - Form 10-Q
- VAC's page on the SEC website