Hilton Grand Vacations Increases Credit Facility to $1 Billion

ORLANDO, Fla.–(BUSINESS WIRE)–Hilton
Grand Vacations Inc.
(NYSE: HGV) today announces it has increased
its credit facility to $1 billion from $400 million. HGV refinanced and
increased the capacity under the existing revolving facility by $600
million to $800 million. As of the transaction close, $745 million
remains available under the revolver.

HGV also refinanced and increased the existing term loans under the
current credit agreement outstanding immediately prior to Nov. 28 to an
aggregate outstanding principal amount of $200 million.

This new credit facility provides the flexibility and scale to execute
HGV’s diversified capital deployment strategy, where key improvements
include incrementally better pricing spreads and broader latitude to
deploy capital.

Bank of America, N.A.; Deutsche Bank Securities Inc.; JP Morgan Chase
Bank, N.A.; and MUFG Bank, Ltd., acted as co-syndication agents for the
new term loan and revolving credit facility. Bank of America, N.A., will
act as the administrative agent for the revised credit facility. PJT
Partners LP advised HGV on the debt financing transaction. Law firms
Womble Bond Dickinson (U.S.) LLP and Simpson Thacher Bartlett LLP
represented HGV in this transaction.

Proceeds of the term facility will be used by HGV to refinance existing
indebtedness and for working capital and general corporate purposes.

Forward-Looking Statements

The statements in this press release that are not historical facts may
be forward-looking statements. These forward-looking statements involve
substantial risks and uncertainties that could cause the outcome to be
materially different. Words such as “may,” “will,” “seeks,”
“anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,”
“would,” or similar expressions indicate a forward-looking statement,
however, not all forward-looking statements include these identifying
words. Actual results may differ materially from those contemplated by
such forward-looking statements, including those set forth in the “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” sections of HGV’s most recent
Annual Report on Form 10-K and HGV’s 2018 Quarterly Reports on Form
10-Q, as such information may be updated from time to time in subsequent
reports. Further, forward-looking statements speak only as of the date
they are made, and HGV undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future operating
results over time, except as required by law.

About Hilton Grand Vacations, Inc.

Hilton Grand Vacations Inc. (NYSE:HGV) is recognized as a leading global
timeshare company. With headquarters in Orlando, Florida, Hilton Grand
Vacations develops, markets and operates a system of brand-name,
high-quality vacation ownership resorts in select vacation destinations.
The Company also manages and operates two innovative club membership
programs: Hilton Grand Vacations Club® and The Hilton Club®, providing
exclusive exchange, leisure travel and reservation services for more
than 300,000 club members. For more information, visit http://www.hgv.com
and www.hiltongrandvacations.com.

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