-Wyndham Worldwide Completes Financing.
Travel Business Review - 25 October 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
Wyndham Worldwide Corporation (NYSE:WYN), a US-based holding company for Wyndham Hotels & Resorts, Group RCI and other lodging brands, has completed a term securitisation transaction.
The company has issued USD300m of investment-grade asset-backed notes through a subsidiary, Sierra Timeshare 2010-3 Receivables Funding LLC.
Tom Conforti, the company executive vice president and chief financial officer, said 'Continued strong demand in the asset-backed securities market and the low interest rate environment gave us the opportunity to achieve a higher advance rate and lower interest costs compared with recent transactions. This transaction shows continued support of our Vacation Ownership business and its receivables portfolio.'
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((Distributed via M2 Communications - http://www.m2.com)).END.PUB430>PDOctober 25, 2010>JNTRAVEL BUSINESS REVIEW.PRICEDATENOT APPLICABLE.DAY
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|Publication:||Travel Business Review (TBR)|
|Date:||Oct 25, 2010|
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