Diamond Resorts International Announces the Closing of $25,000,000 Revolving Credit Facility
14 September 2013 - 7:22AM
Business Wire
Diamond Resorts International, Inc. (NYSE:DRII) announced today
that Diamond Resorts Corporation, an indirect wholly-owned
subsidiary of Diamond Resorts International, closed a senior
secured revolving credit facility on September 11, 2013, with
Credit Suisse AG as administrative agent. The credit facility has a
maturity date of September 11, 2017 and provides for funds to be
borrowed at an adjusted base rate or LIBOR rate, with up to a
maximum of $25,000,000 outstanding at any time. Obligations under
the credit facility are secured on a pari passu basis by the same
collateral securing Diamond Resort Corporation’s 12% Senior Secured
Notes due 2018.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC
and Merrill Lynch, Pierce, Fenner & Smith Incorporated or their
respective affiliates, as applicable, acted as lenders, joint
bookrunners and joint lead arrangers.
About Diamond Resorts International®
Diamond Resorts International®, with its network of more than
300 vacation destinations located in 33 countries throughout the
continental United States, Hawaii, Canada, Mexico, the Caribbean,
South America, Central America, Europe, Asia, Australia and Africa
provides guests with choices and flexibility as they design their
dream vacation, whether they're traveling an hour away or around
the world. Our hassle-free, relaxing vacations give guests a truly
memorable experience every time, for a lifetime.
Diamond Resorts International® manages vacation ownership
resorts and sells vacation ownership points that provide our
members with access to 92 managed resorts, 210 affiliated
properties and four cruise itineraries through THE Club® at Diamond
Resorts International®. To learn more, visit
www.DiamondResorts.com.
Media:Diamond Resorts International, Inc.Stevi Wara,
1-702-823-7069Fax:
1-702-684-8705media@diamondresorts.comorInvestors:Sloane &
CompanyJosh Hochberg, 1-212-446-1892jhochberg@sloanepr.comorDan
Zacchei, 1-212-446-1882dzacchei@sloanepr.com
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