Alston & Bird client Hilton Grand Vacations Inc. (HGV) has closed a $269 million securitization of vacation ownership loans through Hilton Grand Vacations Trust 2022-2. This marks a second asset-based securitization (ABS) transaction in 2022 for HGV. The transaction features four classes of securities: approximately $153 million of Class A notes, approximately $73 million of Class B notes, approximately $26 million of Class C notes, and approximately $17 million of Class D notes.
Proceeds of the issuance, net of fees, will be used to pay down debt and for other general corporate purposes. The notes were offered in a private placement within the U.S. to qualified institutional buyers pursuant to Rule 144A and outside the U.S. in accordance with Regulation S under the Securities Act of 1933, as amended.
Advising Hilton Grand Vacations on the transaction was an Alston & Bird team led by partners Alex Park (Capital Markets & Securities) and Tara Castillo (Finance), assisted by partner Mark Harris, senior associate Anna French, associates Krishna Pathak and Aryeh Wolosow, and paralegal Eleanor McCarter (Finance); partner Clay Littlefield (Federal & International Tax); partner Jonathan Rose (Employee Benefits & Executive Compensation); senior associate Jacob Johnson (Financial Restructuring & Reorganization); and senior associate Bhanu Mathur (Capital Markets & Securities).