Hilton Grand Vacations Announces Launch of Senior Notes Offering
November 14 2016 - 7:16AM
Business Wire
Hilton Grand Vacations Borrower LLC (the “Issuer”) and Hilton
Grand Vacations Borrower Inc. (together with the Issuer, the
“Issuers”) announced today the planned offering, subject to market
and other conditions, of $300,000,000 aggregate principal amount of
the Issuers’ Senior Notes due 2024 (the “Notes”). The Notes are
being offered in connection with the previously announced intention
by Hilton Worldwide Holdings Inc. (“Hilton Parent”), the indirect
parent of the Issuers, to spin off its timeshare business,
following which Hilton Grand Vacations Inc. (“HGV”), the indirect
parent of the Issuers and an indirect subsidiary of Hilton Parent,
will be an independent, publicly traded company.
The Notes to be offered have not been registered under the
Securities Act of 1933, as amended (the “Securities Act”) or any
state securities laws. The Notes may not be offered or sold within
the United States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The Notes will
be offered by the initial purchasers only to persons reasonably
believed to be “qualified institutional buyers” in reliance on the
exemption from registration provided by Rule 144A under the
Securities Act and to certain non-U.S. persons in offshore
transactions in reliance on Regulation S under the Securities
Act.
This press release is being issued pursuant to Rule 135(c) under
the Securities Act, and it is neither an offer to sell or the
solicitation of an offer to buy any securities in any jurisdiction
in which such an offer, solicitation or sale would be unlawful.
Forward Looking StatementsThis press release includes
certain forward-looking statements within the meaning of Section
27A of the Securities Act and Section 21E of the Securities
Exchange Act of 1934, as amended, that are based on HGV’s
management’s beliefs and assumptions and on information currently
available to HGV’s management. Forward-looking statements include,
but are not limited to, statements related to our expectations
regarding the performance of our business, our financial results,
our liquidity and capital resources, the benefits resulting from
our separation from Hilton Parent, the effects of competition and
the effects of future legislation or regulations and other
non-historical statements. Forward-looking statements include all
statements that are not historical facts and can be identified by
the use of forward-looking terminology such as the words “outlook,”
“believes,” “expects,” “potential,” “continues,” “may,” “will,”
“should,” “could,” “seeks,” “approximately,” “projects,”
“predicts,” “intends,” “plans,” “estimates,” “anticipates” or the
negative version of these words or other comparable words.
Forward-looking statements involve risks, uncertainties and
assumptions. Actual results may differ materially from those
expressed in these forward-looking statements. You should not put
undue reliance on any forward-looking statements in this press
release. We do not have any intention or obligation to update such
forward-looking statements.
Forward-looking statements are not guarantees of performance.
You should not put undue reliance on these statements which speak
only as of this date hereof. You should understand that various
important factors, including those discussed in “Risk Factors” in
HGV’s Registration Statement on Form 10 filed with the Securities
Exchange Commission (“SEC”), which is available on the SEC’s
website at www.sec.gov, could affect HGV’s future results and could
cause those results or other outcomes to differ materially from
those expressed or implied in its forward-looking statements. All
forward-looking statements attributable to HGV or persons acting on
its behalf are expressly qualified in their entirety by the
foregoing cautionary statements. HGV undertakes no obligations to
update or revise publicly any forward-looking statements, whether a
result of new information, future events, or otherwise.
About HiltonHilton (NYSE: HLT) is a leading global
hospitality company, comprising more than 4,800 managed,
franchised, owned and leased hotels and timeshare properties with
nearly 789,000 rooms in 104 countries and territories. For 97
years, Hilton has been dedicated to continuing its tradition of
providing exceptional guest experiences. The company's portfolio of
13 world-class global brands includes Hilton Hotels & Resorts,
Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts,
Canopy by Hilton, Curio - A Collection by Hilton, DoubleTree by
Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by
Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by
Hilton and Hilton Grand Vacations. The company also manages an
award-winning customer loyalty program, Hilton HHonors®. Hilton
HHonors members who book directly through preferred Hilton channels
have access to benefits including an exclusive member discount,
free standard Wi-Fi, as well as digital amenities that are
available exclusively through the industry-leading Hilton HHonors
app, where Hilton HHonors members can check-in, choose their room,
and access their room using a Digital Key.
About Hilton Grand Vacations Company, LLCHilton Grand
Vacations Company, LLC, dba Hilton Grand Vacations, is a division
of Hilton, recognized as a leading global hospitality company. With
headquarters in Orlando, Fla., Hilton Grand Vacations develops,
markets and operates a system of brand-name, high-quality vacation
ownership resorts in select vacation destinations. The company also
manages and operates two innovative club membership programs:
Hilton Grand Vacations Club® and The Hilton Club®, providing
exclusive exchange, leisure travel and reservation services for
more than 250,000 Club Members.
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Hilton and HGV Contacts:Christian CharnauxInvestor
Contact1-703-883-5205christian.charnaux@hilton.comorNigel
GlennieMedia Contact1-415-298-4424nigel.glennie@hilton.comorRobert
LaFleurInvestor Contact - HGV1-407-722-3327rlafleur@hgvc.com
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