Alston & Bird client Hilton Grand Vacations (HGV) has completed a $293 million securitization of both HGV and legacy Diamond vacation ownership loans through Hilton Grand Vacations Trust 2023-1. Three classes of notes were issued by HGVT, including approximately $187 million of Class A notes, approximately $79 million of Class B notes, and approximately $27 million of Class C 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 United States to qualified institutional buyers pursuant to Rule 144A and outside the United States in accordance with Regulation S under the Securities Act of 1933, as amended.
Representing Hilton Grand Vacations in the transaction was an Alston & Bird team led by partners Alex Park (Capital Markets & Securities) and Tara Castillo (Finance), assisted by partner Joe McKernan, senior associates Tom Dunn and Anna French, and associate Krishna Pathak (Finance); partner Clay Littlefield (Federal & International Tax); partner David Baum (Financial Services & Products); partner Kyle Woods (Employee Benefits & Executive Compensation); senior associate Bhanu Mathur and associate Kristina Daniels (Capital Markets & Securities); and senior associate Jacob Johnson (Financial Restructuring & Reorganization).