Marriott Ownership Resorts, Inc., a Subsidiary of Marriott Vacations Worldwide, Announces $575M Senior Notes Offering
Reuters
Sep 04
Marriott Ownership Resorts, Inc., a Subsidiary of Marriott Vacations Worldwide, Announces $575M Senior Notes Offering
Marriott Vacations Worldwide Corporation, trading under NYSE: VAC, has announced plans involving its wholly owned subsidiary, Marriott Ownership Resorts, Inc. The Issuer intends to offer $575 million in senior notes due 2033, with the proceeds earmarked for the payment of the 2026 Convertible Notes. This financial strategy includes utilizing the net proceeds alongside cash reserves to manage existing debt and associated transaction expenses. This move underscores Marriott Ownership Resorts, Inc.'s role in the corporation's broader financial management and strategic planning efforts.
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