Marriott Vacations Worldwide Announces Pricing of Convertible Senior Notes
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ORLANDO, Fla., Jan. 28, 2021 /PRNewswire/ Marriott Vacations Worldwide Corporation (NYSE: VAC) (the Company, we, us, or our ) announced today the pricing on January 27, 2021 of the offering of $500 million aggregate principal amount of 0.00% convertible senior notes due 2026 (the notes ) in a private offering (the Offering ) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act ). The Company also granted to the initial purchasers of the notes an option to purchase up to an additional $75 million aggregate principal amount of the notes within a 13-day period beginning on, and including, the initial closing date. The offering of the notes, and the convertible hedge and warrant transactions described below, are expected to close on February 2
Vacation Ownership (Timeshare) Industry SWOT Analysis, Size, Share, Price, Trends and Growth Forecast to 2025 sandiegosun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sandiegosun.com Daily Mail and Mail on Sunday newspapers.
Marriott Vacations Worldwide Announces Agreement to Acquire Welk Resorts For Approximately $430 Million
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ORLANDO, Fla., Jan. 26, 2021 /PRNewswire/ Marriott Vacations Worldwide (NYSE: VAC) ( MVW or the Company ) announced today that it has entered into a definitive agreement to acquire Welk Resorts ( Welk ), one of the largest independent timeshare companies in North America, for approximately $430 million, including approximately 1.4 million MVW common shares. The acquisition is expected to close early in the second quarter of 2021.
Welk opened its first vacation ownership resort in 1984 and today operates a portfolio of eight upper upscale vacation ownership resorts located primarily in highly sought-after West Coast U.S. vacation markets, with nearly 1,400 keys, 55,000 Owners and over three years of built inventory. MVW intends to rebrand all Welk resorts as Hyatt Residence Club resorts once obtaining all necessary
Marriott Vacations Worldwide : Announces Agreement to Acquire Welk Resorts For Approximately $430 Million marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
Marriott Vacations Worldwide Announces Offering of Convertible Senior Notes
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ORLANDO, Fla., Jan. 26, 2021 /PRNewswire/ Marriott Vacations Worldwide Corporation (NYSE: VAC) (the Company, we, us or our ) announced today that it intends to offer, subject to market and other conditions, $500 million aggregate principal amount of convertible senior notes due 2026 (the notes ) in a private offering (the Offering ) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act ). The Company also intends to grant to the initial purchasers of the notes an option to purchase up to an additional $75 million aggregate principal amount of the notes within a 13-day period beginning on, and including, the initial closing date.