Marriott Vacations expands non-recourse warehouse credit facility to $531 million

Marriott Vacations Worldwide Corp.
vac
said Thursday it has amended its non-recourse warehouse credit facility to expand its borrowing capacity to $531 million, up by $181 million. Under the terms of the agreement, the termination date for the existing $350 million warehouse facility remains Dec. 2021, with the additional capacity terminating on March 31, 2021. The interest rate on the warehouse facility is Libor plus 1.4%. The copany has more than $310 million of borrowing capacity following the amendment.