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BOCA RATON, FL--(Marketwired - February 02, 2015) - Bluegreen Corporation ("Bluegreen Vacations" or "Bluegreen"), a sales, marketing and management company focused on the vacation ownership industry, today announced it has completed a securitization involving the issuance of $117.8 million of investment-grade rated securities. The issuance was completed through BXG Receivables Note Trust 2015-A and is comprised of $89.4 million of A rated vacation ownership loan backed notes and $28.4 million of BBB-/BBB rated vacation ownership loan backed notes. The notes have interest rates of 2.88% and 3.47% respectively, for an overall weighted average interest rate of 3.02%. The gross advance rate for this transaction was 94.25%. BB&T Capital Markets, a division of BB&T Securities, LLC, served as structuring agent, joint book runner and co-lead manager on the transaction, while Barclays Capital Inc. served as joint book runner and co-lead manager. |
