Wyndham Worldwide Renews its Vacation Ownership Receivables Conduit Facility
PARSIPPANY, N.J., Sept. 6, 2012 /PRNewswire/ -- Wyndham Worldwide Corporation (NYSE: WYN) today announced that its securitized timeshare receivables conduit facility was renewed through August 2014. The two-year facility bears interest based on commercial paper rates plus a spread or the LIBOR rate plus a spread. The facility capacity was increased in size from $600 million to $650 million. The prior two-year facility was due to expire in June 2013.
"We are pleased by the continued support from our bank group and we are happy that the facility was oversubscribed," said Tom Conforti, Chief Financial Officer, Wyndham Worldwide.
About Wyndham Worldwide
As one of the world's largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Hotel Group encompasses over 7,170 hotels with approximately 608,300 rooms worldwide. Wyndham Exchange & Rentals offers leisure travelers, including its 3.7 million members, access to approximately 100,000 vacation properties located in approximately 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of over 160 vacation ownership resorts serving over 813,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 27,800 employees globally.
For more information about Wyndham Worldwide, please visit the Company's website at www.wyndhamworldwide.com.
SOURCE Wyndham Worldwide Corporation