Diamond Resorts Completes Securitization of Vacation Ownership Receivables

Diamond Resorts timeshare company announced this week the completion of a securitization involving the issuance of $93.6 million of investment-grade rated securities. Diamond Resorts International® is a global hospitality and vacation ownership brand, headquartered in Vegas, Nevada. The company has more than 220 branded and affiliated resorts in 28 countries throughout the US, Canada, Mexico, the Caribbean, South America, Central America, Europe, Asia, Australia, and Africa.

You can read the Diamond Resorts media release below or on the company’s website at http://www.diamondresorts.com/news.aspx

Diamond Resorts International® Completes $93.6 Million Securitization Of Vacation Ownership Receivables

Diamond Resorts International® announced today that it has completed a securitization involving the issuance of $93.6 million of investment-grade rated securities. The issuance was completed through Diamond Resorts Owner Trust 2013-1 and is comprised of $88.6 million of A+ rated vacation ownership loan backed notes and $4.9 million of A rated vacation ownership loan backed notes. The notes have interest rates of 1.95% and 2.89%, respectively, for an overall weighted average interest rate of 2.00%. The advance rate for this transaction was 95%.

“We are very pleased with the completion of this securitization and the terms that were achieved. It reflects the excellent quality of our vacation ownership receivables, and the strength of our hospitality management and vacation ownership businesses,” said David F. Palmer, President and Chief Executive Officer, Diamond Resorts International®.

The transaction was completed in reliance upon Rule 144A and Regulation S as a placement of securities not registered under the Securities Act of 1933, as amended, or any state securities law. All of such securities having been sold, this announcement of their sale appears as a matter of record only.