Bluegreen Vacations Holding Corporation announced that its wholly owned subsidiary, Bluegreen Vacations Corporation has expanded and extended its syndicated credit facility with Fifth Third Bank. The amended and restated facility provides for total borrowings of up to $300 million, consisting of a term loan of $100 million and a revolving line of $200 million, and matures in February 2027. As of the date of this release, outstanding borrowings under the amended and restated facility totaled $130.0 million, including $100.0 million outstanding under the term loan and $30.0 million of borrowings under the revolving line of credit.

Borrowings under the facility, including amounts outstanding prior to the amendment and restatement and future borrowings, bear interest at a rate ranging from Term SOFR+1.75% to SOFR+2.50% with a 0.05% to 0.10% credit spread adjustment for the one-month rate and three-month rate, respectively. Borrowings are collateralized by certain of Bluegreen's vacation ownership interest inventory, sales center buildings, short term receivables and the cash flows from the residual interests relating to certain term securitizations.