Hilton Resorts Corp. priced its $250 million single-tranche timeshare loan ABS, according to a person familiar with the transaction.

The notes, which have a weighted average life of 2.58 years, priced at the low end of guidance at 160 basis points over interpolated swaps to yield 2.29%.

The deal is expected to settle August 8, according to the source.

It was led by Deutsche Bank and Bank of America Merrill Lynch.

The notes are backed by a $255.1 million portfolio of 13,229 Hilton Resorts deeded timeshare interests. S&P rates the notes 'A'.

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