Marriott Vacations Worldwide to Complete Second Securitization of Vacation Ownership Loans in 2022

Orlando, November 3, 2022 /PRNewswire/ — Marriott Vacations Worldwide Corporation (NYSE: VAC) (“MVW” or the “Company”) today completed its second timeshare securitization of 2022 (“2022-2 Securitization”) announced. 144A or more usa Complies with Regulation S under the Securities Act of 1933. $280 million of notes (“notes”) issued in the transaction. $286 million Vacation ownership loans from our various timeshare brands.

Marriott Vacations Worldwide Corporation. (PRNewsFoto/Marriott Vacations Worldwide)

The Note was published in four classes by MVW 2022-2 LLC (“LLC”). $181 million of a class A notebook, approx. $45 million of a class B notebook, approximately $32 million of class C notes, and about $22 million of class D notes. The interest rate for class A notes is 6.11%, the interest rate for class B notes is 6.55%, the interest rate for class C notes is 7.62%, and the interest rate for class D notes is 9.0%. MVW chose to keep the Class D notes. The weighted average cost of the first three classes of funds sold to third parties was 6.37%. The weighted average interest rate across the bonds is 6.58%, with no impact on our Class D bond reservations and the total prepayment rate of the transaction is 98%.

about $286 million of loans were purchased by the LLC on November 3, 2022. Received MVW $259 million Of the proceeds from the first three classes of bonds sold to third parties, approximately $129 million Used to pay off all outstanding amounts previously withdrawn under MVW. $425 million Warehouse Credit Facility, approx. $6 million used to pay transaction costs and required reserves; $124 million It can be used by general companies. In connection with the 2022-2 securitization, the Company has closed his MVW 2016-1 transaction to approximately $22 millionthe majority of the loans acquired through redemption were purchased by the LLC.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor does it constitute an offer to sell, or the solicitation of an offer to buy, any sale of these securities in any jurisdiction in which such offer, solicitation or sale prior to registration or qualification under the securities laws would be unlawful. It’s not something you do. of such jurisdiction. The Notes have not been registered under the Securities Act of 1933, as amended, or any State Securities Act. Notes may not be offered or sold unless registered as such. usaexcept in compliance with US securities laws and applicable state securities law exemptions from registration requirements.

About Marriott Vacations Worldwide Corporation

Marriott Vacations Worldwide Corporation (NYSE:VAC) is a leading global provider of vacation ownership, exchanges, rentals, resorts, property management and related businesses, products and services. We have over 120 vacation ownership resorts and approximately 700,000 owner families in a diverse portfolio that includes some of the most iconic vacation ownership brands. The company also operates an exchange network and membership program of approximately 3,200 affiliated resorts in more than 90 countries and territories, and provides managed services to other resorts and lodging properties. As a vacation industry leader and innovator, we develop, sell and market vacation ownership products and services while maintaining the highest standards of excellence in serving our customers, investors and stakeholders. For more information, see: www.marriottvacationsworldwide.com.

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