Marriott Vacations Worldwide Announces Repricing of $893 Million Term Loan B

ORLANDO, Fla., Dec. 5, 2019 /PRNewswire/ -- Marriott Vacations Worldwide Corporation (NYSE: VAC) announced today an amendment to its existing credit agreement that, among other things, reduces the interest rate applicable to its term loan B facility ("Term Loan B Facility"). The interest rate applicable to the Term Loan B Facility as a result of the amendment is LIBOR+1.75%, a reduction of 0.50% from the previous interest rate of LIBOR+2.25%. All other terms in the existing credit agreement remain substantially the same. The transaction closed on December 3, 2019.

About Marriott Vacations Worldwide Corporation
Marriott Vacations Worldwide Corporation is a leading global vacation company that offers vacation ownership, exchange, rental and resort and property management, along with related businesses, products and services. The company has a diverse portfolio that includes seven vacation ownership brands. It also includes exchange networks and membership programs, as well as management of other resorts and lodging properties. As a leader and innovator in the vacation industry, the company upholds the highest standards of excellence in serving its customers, investors and associates while maintaining exclusive, long-term relationships with Marriott International and Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit www.marriottvacationsworldwide.com.

SOURCE Marriott Vacations Worldwide

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