Travel + Leisure Co. Completes $275 Million Term Securitization | News

ORLANDO, Fla.–(BUSINESS WIRE)–March 23, 2022–

Travel + Leisure Co. (NYSE: TNL) today announced that it has entered into a forward securitization transaction involving the issuance of $275 million of asset-backed notes. Sierra Timeshare 2022-1 Receivables Funding LLC has 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 C Notes. Class D Notes. Class A Notes have a coupon of 3.05%, Class B Notes have a coupon of 3.55%, Class C Notes have a coupon of 3.94% and Class D have a coupon of 6.00% for an overall weighted average coupon. of 3.84%. The advance rate for this transaction was 98%.

“Our first futures offering of 2022 demonstrates the strength of our business model, even in times of market volatility,” said Mike Hug, Chief Financial Officer of Travel + Leisure Co. “Despite a very busy securitization market and variability rates, we are satisfied with the terms of this transaction and we remain delighted with the improvement it brings to our liquidity position.

Sierra Timeshare 2022-1 Receivables Funding LLC is an indirect subsidiary of Travel + Leisure Co. The transaction was entered into pursuant to Rule 144A and Regulation S as an offering of unregistered securities under the Securities Act of 1933, as amended, or of any State. securities law. All these titles having been sold, this announcement of their sale appears for information purposes only.

About Travel + Leisure Co.

Travel + Leisure Co. (NYSE: TNL) is the global leader in membership and leisure travel, with nearly 20 travel brands in its portfolio of resorts, travel clubs and lifestyle. The company delivers exceptional vacation experiences and travel inspiration to millions of owners, members and subscribers each year through its products and services: Wyndham Destinations, the largest vacation ownership company with more than 245 resorts in worldwide ; Panorama, the world’s leading membership travel company that includes the largest vacation exchange company and subscription travel brands; and Travel + Leisure Group, offering the best travel content and services, including the brand’s eponymous travel club. At Travel + Leisure Co., our global team of associates brings hospitality to millions of people each year, transforming vacation inspiration into exceptional travel experiences. We put the world on vacation. Learn more about travelandleisureco.com.

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CONTACT: Investor Contact:

Christopher Agnew

Senior Vice President, FP&A and Investor Relations

(407) 626-4050

[email protected] contact:

Steven Goldsmith

Public relations

(407) 626-5882

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA

SECTOR KEYWORD: HOLIDAYS OTHER TRAVEL ACCOMMODATION DESTINATIONS TRAVEL

SOURCE: Travel + Leisure Co.

Copyright BusinessWire 2022.

PUBLISHED: 03/23/2022 16:30 / DISK: 03/23/2022 16:32

http://www.businesswire.com/news/home/20220323005794/en

Copyright BusinessWire 2022.

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