Marriott Vacations Worldwide Announces Pricing of Convertible Senior Notes

Dec 06, 2022

Marriott Vacations Worldwide Corporation (NYSE: VAC) (the “Company,” “we,” “us” or “our”) announced today the pricing of the offering of $500 million in aggregate principal amount of 3.25% convertible senior notes due 2027 (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 (the “Initial Purchasers”) an option to purchase up to an additional $75 million aggregate principal amount of the Notes for settlement 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 December 8, 2022, subject to customary closing conditions.

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