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Diamond Resorts International Completes $180 Million Securitization of Vacation Ownership Receivables

LAS VEGAS--(BUSINESS WIRE)--Diamond Resorts International, Inc. (NYSE:DRII) announced today that it has completed a securitization involving the issuance of $180 million of investment-grade rated securities. The issuance was completed through Diamond Resorts Owner Trust (“DROT”) 2015-2 and is comprised of $159.38 million of AA- rated vacation ownership loan backed notes and $20.62 million of A- rated vacation ownership loan backed notes. The notes have interest rates of 2.99% and 3.54% respectively, for an overall weighted average interest rate of 3.05%. The advance rate for this transaction was 96%.