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Travel + Leisure Co. Completes $275 Million Term Securitization

Mar 23, 2022•over 3 years ago

Amount Raised

$275 Million

Orlando

Description

Travel + Leisure Co. (NYSE:TNL) announced today that it has completed a term securitization transaction involving the issuance of $275 million of asset-backed notes. Sierra Timeshare 2022-1 Receivables Funding LLC issued approximately $88 million of Class A Notes, approximately $81 million of Class B Notes, approximately $65 million of Class C Notes, and approximately $41 million of Class D Notes. The Class A Notes have a coupon of 3.05%, the Class B Notes have a coupon of 3.55%, the Class C Notes have a coupon of 3.94%, and the Class D Notes have a coupon of 6.00% for an overall weighted average coupon of 3.84%

Company Information

Company

Travel + Leisure

Location

Orlando, Florida, United States

About

Travel + Leisure Co. (NYSE:TNL) is the world’s leading membership and leisure travel company, with nearly 20 travel brands across its resort, travel club, and lifestyle portfolio. The company provides outstanding vacation experiences and travel inspiration to millions of owners, members, and subscribers every year through its products and services: Wyndham Destinations, the largest vacation ownership company with more than 245 vacation club resort locations across the globe; Panorama, the world’s foremost membership travel business that includes the largest vacation exchange company and subscription travel brands; and Travel + Leisure Group, featuring top travel content and travel services including the brand’s eponymous travel club. At Travel + Leisure Co., our global team of associates brings hospitality to millions each year, turning vacation inspiration into exceptional travel experiences. We put the world on vacation. Learn more at travelandleisureco.com.

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