On April 23, 2018, Westgate Resorts completed a securitization through Westgate Resorts 2018-1 LLC (the “Issuer”). In connection with the securitization, 16 investors purchased $197,850,000 of Notes from the Issuer. 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.

The securitization was rated by DBRS and three classes of Notes were issued: $76,450,000 of AAA-rated Class A Notes, $66,600,000 of A-rated Class B Notes, and $54,800,000 of BBB-rated Class C Notes. The Class A Notes have a coupon rate of 3.38 percent; the Class B Notes have a coupon rate of 3.58 percent, and the Class C Notes have a coupon rate of 4.10 percent for an overall weighted average coupon rate of 3.65 percent. The advance rate for this transaction was 86.76 percent.

The bonds were sold through Amherst Pierpont Securities Group, Lead Manager, and Capital One Securities, Inc., Co-Manager. Since 1992, Westgate has sold approximately $3.4 billion of notes in the securitization market. “We are very pleased with the results of this securitization, especially under the very volatile bond and stock market conditions. The continued execution of these transactions demonstrates the faith the investment community has in the Westgate business model, its servicing platform, the performance of prior structured transactions, and its management team,” says Tom Dugan, Chief Financial Officer of Westgate Resorts. “We are especially proud of the AAA-rating provided by DBRS and the rating upgrades to our existing bonds, as we announced on March 13, 2018.”

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The Notes have not been registered under the Securities Act of 1933, as amended, or any state securities law. Unless so registered, the Notes may not be offered or sold in the United States, except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

About Westgate Resorts
Westgate Resorts is the largest privately held timeshare company in the world and one of the largest resort developers in the United States. Founded in 1982 by David Siegel, the company is headquartered in Orlando with 28 themed destination resorts nationwide, featuring more than 13,000 luxury villas and hotel rooms in popular vacation destinations, including resorts in OrlandoPark City, UtahLas VegasMyrtle Beach, SCMiami Beach, FLDaytona Beach, FLCocoa Beach, FLRiver Ranch, FLGatlinburg, TNWilliamsburg, VAMesa, AZBranson, MO; and Tunica, MS. Most Westgate resorts feature a variety of unique restaurant, retail and spa concepts, including Drafts Sports Bar & Grill, Westgate Smokehouse Grill, Edge Steakhouse, Westgate Marketplace & Deli, and Serenity Spa by Westgate. For more information about Westgate Resorts, please visit www.westgateresorts.com.

About Amherst Pierpont
Amherst Pierpont Securities was formed in 2014 through the merger of Amherst Securities Group (founded in 1993) and Pierpont Securities (founded in 2009). The combination melds Amherst’s unparalleled leadership in mortgage-related securities and securitized products with Pierpont’s strength in liquid products and scalable infrastructure. Positioned to capitalize on growth opportunities, Amherst Pierpontemploys approximately 200 Fixed Income professionals with vast industry experience and the expertise to help clients succeed in today’s markets. Amherst Pierpont is a member of FINRA and SIPC. For additional information about Amherst Pierpont, please visit their website at www.apsec.com.