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April 19, 2015 5:59 AM ET

Hotels, Restaurants and Leisure

Company Overview of Bluegreen Corporation

Company Overview

Bluegreen Corporation operates as a sales, marketing, and management company focusing on the vacation ownership industry in the United States. The company markets, sells, and manages vacation ownership interests (VOIs) in resorts that are developed or acquired by the company, or developed and owned by others. Its VOIs enable buyers to use resort accommodations through an annual or biennial allotment of points, which represent their ownership and beneficial use rights in perpetuity in the Bluegreen Vacation Club. It also provides property and homeowners’ association management, VOI title, mortgage servicing, and resort amenity operational services; and financing to individual purchasers of VO...

4960 Conference Way North

Suite 100

Boca Raton, FL 33431

United States

Founded in 1966

Phone:

561-912-8000

Fax:

561-912-8100

Key Executives for Bluegreen Corporation

Chief Executive Officer and President
Age: 52
Chief Financial Officer, Senior Vice President, Treasurer, Secretary And President Of Bluegreen Treasury Services
Age: 46
Chief Strategy Officer, Executive Vice President and President of Bluegreen Services
Age: 58
Senior Vice President and President of Bluegreen Resorts Field Sales & Marketing
Age: 56
Chief Information Officer and Senior Vice President
Compensation as of Fiscal Year 2014.

Bluegreen Corporation Key Developments

Bluegreen Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Bluegreen Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported operating profit was $17.136 million compared with $9.033 million for the same period last year. Income from continuing operations before income taxes was $18.814 million compared with $8.521 million for the same period last year. Income from continuing operations was $10.215 million compared with $7.184 million for the same period last year. Net income attributable to Bluegreen was $7.852 million compared with $4.635 million for the same period last year. Adjusted EBITDA was $26.7 million against $14.1 million for the same period last year. For the full year, the company reported operating profit was $106.106 million. Income from continuing operations before income taxes was $108.972 million. Income from continuing operations was $68.7 million. Adjusted EBITDA was $134.9 million.

Bluegreen Corp. Completes Private Offering and Sale of About $117.8 Million of Investment-Grade Timeshare Receivable-Backed Notes

Bluegreen Corp. on Jan. 29, 2015 completed a private offering and sale of about $117.8 million of investment-grade timeshare receivable-backed notes. The securitization consisted of about $89.4 million of class A notes and $28.4 million class B notes with interest rates of 2.88% and 3.47%, respectively. The notes mature in May 2030. BB&T Capital Markets acted as the structuring agent, joint book runner and co-lead manager. Barclays Capital acted as joint book runner and co-lead manager. Both underwriters acted as initial purchasers. About $125.0 million of the timeshare receivables were sold to BXG Receivables Note Trust 2015-A. Gross proceeds from the sales to the trust are expected to be about $117.8 million. Parts of the proceeds were used to repay existing facilities with several banks, capitalize a reserve fund, and pay fees and expenses related to the transaction. Another portion is expected to be used for general corporate purposes.

Bluegreen Corporation Enters into Agreements for the Development of Timeshare Units at Big Bear Village

BFC Financial Corporation and BBX Capital Corporation have announced that Bluegreen Corporation has entered into agreements for the development of timeshare units at Big Bear Village. Under the terms of the agreements, The company is selling BBV Phase I, LLC undeveloped land at Bluegreen Vacations' existing Club at Big Bear Village resort in Big Bear Lake, California. BBV intends to develop up to 60 two-bedroom timeshare units, subject to entitlements, on the property. In addition, BBV has engaged Bluegreen Vacations to sell the completed timeshare units under a fee-based service sales and marketing agreement and to service the consumer note receivables originated in the sales process for BBV.

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