Hilton Grand Vacations Files 8-K on New Agreements
Ticker: HGV · Form: 8-K · Filed: Feb 3, 2025 · CIK: 1674168
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
HGV just filed an 8-K for a new material agreement and financial obligation. Details to follow.
AI Summary
Hilton Grand Vacations Inc. filed an 8-K on February 3, 2025, reporting on events that occurred on January 31, 2025. The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation or an off-balance sheet arrangement. Specific details regarding the agreement and financial obligations are not provided in this excerpt.
Why It Matters
This filing signals new contractual commitments or financial arrangements for Hilton Grand Vacations, which could impact its future financial obligations and operations.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a financial obligation, which could carry inherent risks depending on the nature and terms of these arrangements.
Key Players & Entities
- Hilton Grand Vacations Inc. (company) — Registrant
- February 3, 2025 (date) — Filing Date
- January 31, 2025 (date) — Earliest Event Reported Date
- 6355 MetroWest Boulevard, Suite 180 Orlando, Florida 32835 (address) — Principal Executive Offices
FAQ
What is the nature of the material definitive agreement entered into by Hilton Grand Vacations?
The provided excerpt does not specify the details of the material definitive agreement.
What type of financial obligation or off-balance sheet arrangement was created?
The excerpt states the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but does not provide specifics.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on January 31, 2025.
What is the principal executive office address for Hilton Grand Vacations?
The principal executive office is located at 6355 MetroWest Boulevard, Suite 180, Orlando, Florida 32835.
What is the filing date of this 8-K report?
The 8-K report was filed on February 3, 2025.
Filing Stats: 1,195 words · 5 min read · ~4 pages · Grade level 10.2 · Accepted 2025-02-03 16:30:23
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share HGV New York St
- $1.0 billion — ong other things, the Borrower incurred $1.0 billion of a new class of revolving credit comm
Filing Documents
- ef20042787_8k.htm (8-K) — 37KB
- ef20042787_ex10-1.htm (EX-10.1) — 1887KB
- 0001140361-25-002888.txt ( ) — 2427KB
- hgv-20250131.xsd (EX-101.SCH) — 4KB
- hgv-20250131_lab.xml (EX-101.LAB) — 21KB
- hgv-20250131_pre.xml (EX-101.PRE) — 16KB
- ef20042787_8k_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. On January 31, 2025, Hilton Grand Vacations Inc., a Delaware corporation (the "Company" or "HGV"), Hilton Grand Vacations Parent LLC, a Delaware limited liability company ("Holdings"), Hilton Grand Vacations Borrower LLC, a Delaware limited liability company (the "Borrower"), and certain subsidiaries of the Borrower, entered into Amendment No. 8 to the Credit Agreement (the "Amendment"), which amended the Credit Agreement, dated as of August 2, 2021, by and among the Company, Holdings, the Borrower, the guarantors from time to time party thereto, the lenders from time to time party thereto and Bank of America, N.A., as administrative agent and collateral agent (the "Credit Agreement"), pursuant to which, among other things, the Borrower incurred $1.0 billion of a new class of revolving credit commitments (the "New Revolving Credit Facility"). Each capitalized term used herein and not otherwise defined herein shall have the same meaning as specified in the Credit Agreement. Immediately prior to the incurrence of the New Revolving Credit Facility, the Borrower terminated its existing revolving credit commitments in full. The New Revolving Credit Facility will mature on January 31, 2030. The Borrower may voluntarily prepay borrowings under the New Revolving Credit Facility (which prepayments may be reborrowed) at any time without premium or penalty. Borrowings under the New Revolving Credit Facility bear interest, at the Borrower's option, at a rate equal to a margin (which (x) in the case of Base Rate (as defined below) borrowings, that will range from 0.50% to 0.95% per annum based on the Consolidated First Lien Net Leverage Ratio and (y) in the case of Term SOFR (as defined below) borrowings, that will range from 1.50% to 1.95% per annum based on the Consolidated First Lien Net Leverage Ratio) over either (a) a base rate (the "Base Rate") determined by reference to the highest of (1) the administrative age
03
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information provided in Item 1.01 of this Current Report is incorporated by reference herein.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description Exhibit 10.1 Amendment No. 8 to the Credit Agreement, dated as of January 31, 2025, by and among Hilton Grand Vacations Inc., Hilton Grand Vacations Parent LLC, Hilton Grand Vacations Borrower LLC, the guarantors from time to time party thereto, the lenders from time to time party thereto and Bank of America, N.A., as administrative agent and collateral agent. Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HILTON GRAND VACATIONS INC. By: /s/ Charles R. Corbin Charles R. Corbin Executive Vice President, General Counsel and Secretary Date: February 3, 2025