Wyndham Worldwide and Wyndham Timeshare Complete $400M Securitization

Wyndham Worldwide, one of the world’s largest hospitality companies, had good timing this week breaking the news of a $400 million securitization deal during the ARDA timeshare convention. The securitization involves roughly $400 million in investment-grade, asset-backed notes.

“We continue to see enthusiastic investor support for our ABS offerings, evidenced by the highest advance rate in our history and very attractive interest rates,” said Tom Conforti, executive vice president and chief financial officer, Wyndham Worldwide. “This transaction builds on the continued strong performance of our Vacation Ownership business and its receivables portfolio.”

Subsidiary Sierra Timeshare 2011-1 Receivables Funding LLC (an indirect subsidiary of Wyndham Vacation Ownership) issued:

$296 million of “A” rated notes

$80 million of “BBB-rated” notes

$24 million of “BB” rated bonds

The notes were backed by timeshare ownership loans and the coupons had an overall weighted average of 3.70 percent.

Follow this link to read the Wyndham Worldwide media release.

The Strength of Wyndham Worldwide and Wyndham Timeshare

Wyndham Exchange & Rentals includes 3.8 million members, and offers access to approximately 97,000 vacation properties in roughly 100 countries. Wyndham Vacation Ownership timeshare includes a network of 160 plus vacation ownership resorts and nearly 815,000 timeshare owner – members.

Excellent opportunities are also available in Wyndham timeshare resales and Wyndham timeshare rentals.