Orange Lake Country Club is marketing $176 million of notes backed by timeshare loans, according to Fitch Ratings.

The deal, Orange Lake Timeshare Trust 2016-A, will issue two tranches of notes: $138.16 million of senior notes with 30.75% credit enhancement are provisionally rated ‘A’ and $38.03 million of subordinate notes with 11% credit enhancement are rated ‘BBB’.

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