Diamond Resorts completed its $93.56 milliona timeshare securitization, Diamond Resorts Owner Trust 2013-1.

The deal, rated by Standard & Poor’s, includes $88.6 million of ‘A+’ rated notes and $4.9 million of ‘A’ rated notes.

In a press release published on Wednesday, the company said that 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%.

The notes are backed by 8,530 vacation ownership interval loans with an aggregate balance of $98.49 million.

Credit support includes the 10.00% initial overcollateralization and subordination for the Class A notes and 5.00% initial overcollateralization for the Class B notes; an initial reserve account, which will be funded at closing with 1.00% of the collateral amount; and the excess spread of approximately 12.1-12.3% per year, according to the S&P presale report.

Credit Suisse is the initial purchaser of the notes.

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