July 19, 2012
/PRNewswire/ -- Wyndham Worldwide Corporation (NYSE:WYN) today announced that it has completed a term securitization transaction involving the issuance of
of asset-backed notes. Sierra Timeshare 2012-2 Receivables Funding LLC issued
of A rated notes and
of BBB rated notes. The notes were backed by vacation ownership loans and had coupons of 2.38% and 3.42%, respectively, for an overall weighted average coupon of 2.66%. The advance rate for this transaction was 90.0%.
Sierra Timeshare 2012-2 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 products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Hotel Group encompasses 7,150 hotels with approximately 609,300 rooms worldwide. Wyndham Exchange & Rentals offers leisure travelers, including its 3.7 million members, access to approximately 100,000 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 over 160 vacation ownership resorts serving over 813,000 owners throughout
and the South Pacific. Wyndham Worldwide, headquartered in
, employs approximately 27,800 employees globally.
For more information about Wyndham Worldwide, please visit the Company's website at
SOURCE Wyndham Worldwide Corporation