Wyndham Worldwide Completes $300 Million Term Securitization

PARSIPPANY, N.J., Nov. 10, 2011 // PRNewswire // -- Wyndham Worldwide Corporation (NYSE: WYN) today announced that it has completed a term securitization transaction involving the issuance of $300 million of asset-backed notes. Sierra Timeshare 2011-3 Receivables Funding LLC issued $224 million of A rated notes, $46 million of BBB rated notes and $30 million of notes rated BB.

"We are very pleased with our third successful ABS transaction of the year," said Tom Conforti, executive vice president and chief financial officer of Wyndham Worldwide. "We continue to see strong investor support for our program as evidenced by the 4.12% weighted average coupon and 94% advance rate."

Sierra Timeshare 2011-3 Receivables Funding LLC is an indirect subsidiary of Wyndham Vacation Ownership. The transaction was completed in reliance upon Rule 144A and Regulation S as a placement of securities not registered under the Securities Act of 1933, as amended, or any state securities law. All of such securities having been sold, this announcement of their sale appears as a matter of record only.

About Wyndham Worldwide Corporation

As one of the world's largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality services and products across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Worldwide encompasses approximately 7,360 franchised hotels and vacation ownership resorts with approximately 632,000 rooms worldwide. Wyndham Exchange & Rentals offers leisure travelers, including its 3.7 million members, access to approximately 99,000 vacation properties located in approximately 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of vacation ownership resorts serving nearly 815,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 26,000 employees globally.

For more information about Wyndham Worldwide, please visit the Company's website at www.wyndhamworldwide.com.

SOURCE Wyndham Worldwide Corporation

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

The Hummus Republic
The Hummus Republic is a Modern Mediterranean QSR, hungry for change in the fast casual food industry. We're here to bring the flavors of authentic...
IceBorn Water and Ice Vending
IceBorn was developed to be the premier consumer water and ice vending brand.
Jersey Mike's Subs
Jersey Mike's, a fast-casual sub sandwich franchise with more than 1,500 locations open and under development nationwide, believes that making a sub...
UBreakiFix
uBreakiFix is a consumer electronics repair company based out of Orlando, FL that specializes in refurbishing and restoring smartphones, tablets,...
Discovery Point Child Development Centers®
• 30 years of brand strength in educational childcare • Only childcare franchise with a flat fee system (vs. fees based on % of your total...
Share This Page

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.