Marriot Vacations Worldwide plans to issue $250 million of notes backed by timeshare loans.

The deal, MVW Owner Trust 2016-1, is the company’s eighteenth term securitization. It features two tranches of notes; a $230.57 million tranche of class A notes carry a preliminary ‘A’ rating from Fitch Ratings and benefit from hard credit enhancement of 11.50%; a $19.43 million tranche of class B notes are rated ‘BBB’ and benefit from 4% hard credit enhancement.

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