Bluegreen Completes $204M Securitization

Bluegreen Corp., Boca Raton, Fla., has announced the completion of a $203.8 million private offering of securities backed by vacation ownership receivables, the company's largest securitization to date.The securities were issued by BXG Receivables Note Trust 2005-A, and Bluegreen said it will continue to service the loans collateralizing the securities. A portion of the proceeds were used to pay down all outstanding amounts due under the company's vacation ownership receivables purchase facilities, Bluegreen said. The securities offering consisted of six classes of notes with a blended interest rate of approximately 5.98%. Bluegreen can be found online at http://www.bluegreenonline.com.