ILG announced today that it has completed a term securitization transaction involving the issuance of $325 million of asset-backed notes. VSE 2017-A VOI Mortgage LLC, an indirect wholly-owned subsidiary of Vistana Signature Experiences, Inc. (“Vistana”) issued these notes in three tranches: $240 million of Class A notes rated AAA/AAA with an interest rate of 2.33%; $59 million of Class B notes rated A/A with an interest rate of 2.63%; and $26 million of Class C notes rated BBB/BBB with an interest rate of 2.93%. The notes are backed by vacation ownership loans from both Vistana Signature Experiences and Hyatt Vacation Ownership and had an overall weighted average coupon of 2.43%. The advance rate for this transaction was approximately 97%.
ILG, Inc. (Nasdaq: ILG), a leading provider of professionally delivered vacation experiences and the exclusive global licensee for the Hyatt®, Sheraton®, and Westin® brands in vacation ownership, announced it has been named to the 2017 Fortune magazine list of the 100 Fastest-Growing Public Companies, ranking 87th overall. This is the company’s first year on the prestigious list, which recognizes the best three-year performers in terms of revenues, profits, and stock return.
Festiva Development Group, Inc., timeshare owners and members of the company’s Adventure Club will notice an upgrade to key rooms and amenities at resorts in South Carolina, Florida and Branson, Missouri. The major renovations, improvements and upgrades are part of the company’s Elevating the Journey campaign, a capital improvements project which aims to enhance the owner and guest vacation experience at its most popular resorts
Global Connections Inc. Congratulates Utah Sales Distributor on Anniversary Global Travel Network Celebrates 15 Successful Years as Authorized Distributor of Global Discovery Vacations
Global Connections Inc. (GCI), the highly-respected developer, travel club fulfillment and service provider, congratulates Global Travel Network (GTN) for its 15 successful years as an authorized distributor of GCI’s travel club product.