- Marriott Vacations Worldwide (NYSE:VAC) proposes $200M aggregate principal amount of convertible senior notes due 2022 maturing on Sept. 15, 2022.
- The initial buyers will be granted an option to purchase up to another $30M of the notes.
- Net proceeds shall be used to repurchase ~$60M of the common stock, a portion of it to pay the cost of the convertible note hedge transactions and the balance for general corporate purposes incl. repayment of debt, acquisitions, working capital, inventory, share repurchases and capital expenditures.
- Press Release