Loan
Wyndham Worldwide Corporation announced today that it has completed a term securitization transaction involving the issuance of $325 million of asset-backed notes. Sierra Timeshare 2016-3 Receivables Funding LLC issued $260 million of A rated notes and $65 million of BBB rated notes. The notes were backed by vacation ownership loans and had coupons of 2.43% and 2.63%, respectively, for an overall weighted average coupon of 2.47%. The advance rate for this transaction was 90.00%.
Sierra Timeshare 2016-3 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
Wyndham Worldwide is one of the largest global hospitality companies, providing travelers with access to a collection of trusted hospitality brands in hotels, vacation ownership, and unique accommodations including vacation exchange, holiday parks, and managed home rentals. With a collective inventory of more than 120,000 places to stay across 100 countries on six continents, Wyndham Worldwide and its 38,000 associates welcomes people to experience travel the way they want. This is enhanced by Wyndham Rewards®, the Company’s re-imagined guest loyalty program across its businesses, which is making it simpler for members to earn more rewards and redeem their points faster. For more information, please visit www.wyndhamworldwide.com.
Marriott Vacations Worldwide (NYSE: VAC), a major player in the global vacation ownership sector, today…
In 2013, I attended an ARDA session on innovative solutions for legacy timeshare resorts. Rich…
The Perspective Group and GNEX (Growth Networking EXperience) Conference today announced that Carl Gould, a…
Colebrook Financial, a leading lender to the timeshare and travel club industries, has renewed a…
All-inclusive travel has surged from a niche preference to a dominant force in global tourism,…
The future of hospitality is being shaped in the narrow space between attentiveness and intrusion.…