Marriott Vacations Worldwide Sets $575 Mln Of Sr. Notes Offering

(RTTNews) - Marriott Vacations Worldwide Corporation (VAC) Thursday said that its subsidiary, Marriott Ownership Resorts, Inc. intends to offer $575 million of senior notes due 2033.

The company expects to use the proceeds from the offering for the payment of $575 million of notes at or prior to maturity on January 15, 2026. During the period between the closing of the notes offering and the maturity date of the 2026 notes, the company intends to use proceeds to repay debts under Marriott Vacations Worldwide 's $800 million revolving credit facility and/or invest in cash equivalent securities.