Travel + Leisure Co. Completes $325 Million Term Securitization
Travel Leisure Co. Common Stock (TNL)
Company Research
Source: Business Wire
ORLANDO, Fla.--(BUSINESS WIRE)--Travel + Leisure Co. (NYSE:TNL) announced today it completed a term securitization transaction involving the issuance of $325 million in principal amount of asset-backed notes with an overall weighted average coupon of 5.18%. The advance rate for this transaction was 98.00%.“We are very pleased with the successful completion of our third term securitization of 2024, with both our advance rate and overall coupon improving to the best levels we have achieved in over two years,” said Mike Hug, Chief Financial Officer of Travel + Leisure Co. “We have been able to consistently access the capital markets through a variety of economic conditions, reflecting the market’s confidence in the resiliency of our business.”Sierra Timeshare 2024-2 Receivables Funding LLC issued $148 million of Class A Notes, $71 million of Class B Notes, $75 million of Class C Notes, and $31 million of Class D Notes. The Class A Notes have a coupon of 4.83%, the Class B Notes have
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TNL
Earnings
- 10/23/24 - Beat
TNL
Sec Filings
- 10/28/24 - Form 4
- 10/28/24 - Form 4
- 10/28/24 - Form 4
- TNL's page on the SEC website