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-Wyndham Worldwide Completes Financing.

Travel Business Review-October 25, 2010--Wyndham Worldwide Completes Financing(C)2010] ENPublishing - http://www.enpublishing.co.uk

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.'

[Editorial queries for this story should be sent to tbr@enpublishing.co.uk]

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Publication:Travel Business Review (TBR)
Date:Oct 25, 2010
Words:165
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