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Wyndham Worldwide Completes $225 Million Term Securitization

Category: Worldwide - Industry economy - Figures / Studies
This is a press release selected by our editorial committee and published online for free on Friday 29 May 2009

Wyndham Worldwide Corporation (NYSE:WYN) today announced that it has completed a term securitization transaction involving the issuance of $225 million of investment grade asset-backed notes by Sierra Timeshare 2009-1 Receivables Funding LLC, an indirect subsidiary of Wyndham Vacation Ownership. The notes are backed by vacation ownership receivables originated by subsidiaries 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.

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