Hilton Grand Vacations successfully repriced its existing $1.3 billion term loan B, maturing Aug. 2, 2028. The new pricing will be SOFR plus 275 basis points, down from SOFR plus 300 basis points. Additionally, the interest rate floor for the Term Loan B has been lowered from 50 basis points to zero basis points.
Hilton Grand Vacations refinanced and increased the capacity under its existing revolving facility from $800 million to $1 billion. Bank of America will remain the administrative agent for the new revolving credit facility.
According to an 8K, Bank of America served as administrative agent, collateral agent, swing line lender and L/C issuer for the second amendment to Hilton Grand Vacations’ $1 billion credit agreement.
Hilton Grand Vacations increased its credit facility from $400 million to $1 billion. Bank of America acted as the administrative agent on the revised facility