Diamond Resorts International plans to issue $200 million of bonds backed by vacation timeshare loans, according to Standard & Poor’s.

Diamond Resorts Owner Trust 2014-1 will issue $181.2 million of ‘A+’ notes and $18.7 million of ‘A-’ notes. The notes benefit from 13% initial over collateralization and Credit Suisse is the lead manager on the deal.

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