Daily News: August 20, 2012

Capital One Provides Warehouse Facility to Westgate

Capital One Bank announced it closed a $35 million revolving senior warehouse facility for Westgate Resorts, a privately owned timeshare company. The four-year facility will be used to finance notes receivable arising from the sale of vacation ownership intervals at Westgate’s resort properties.

“Westgate is a great partner for Capital One Bank’s Vacation Ownership team to support given the company’s 30-year track record operating in major vacation hubs across the U.S.,” said Michael C. Szwajkowski, executive vice president, Commercial and Specialty Finance, Capital One Bank. “We are pleased to be working with this leader in the timeshare market to support the future growth of the company.”