Wyndham Worldwide Renews its Vacation Ownership Receivables Conduit Facility
PARSIPPANY, N.J., Aug. 29, 2013 /PRNewswire/ -- Wyndham Worldwide Corporation (NYSE: WYN) today announced that its securitized timeshare receivables conduit facility was renewed through August 2015. The two-year facility bears interest based on commercial paper rates plus a spread or the LIBOR rate plus a spread. The facility capacity size remained $650 million. The prior two-year facility was due to expire in August 2014.
About Wyndham Worldwide Corporation:
One of the world's largest hospitality companies, Wyndham Worldwide (NYSE: WYN) provides a wide range of hospitality products and services through its global portfolio of world-renowned brands. The world's largest hotel company based on the number of properties, Wyndham Hotel Group is home to many of the world's best-known hotel brands, with over 7,410 franchised hotels and over 635,100 hotel rooms worldwide. Wyndham Exchange & Rentals is the worldwide leader in vacation exchange and the world's largest professionally managed vacation rentals business, providing more than 5 million leisure-bound families annually with access to over 106,000 vacation properties in 100 countries through its prominent exchange and vacation rental brands. The industry and timeshare ownership market leader, Wyndham Vacation Ownership develops, markets, and sells vacation ownership interests and provides consumer financing to owners through its network of 190 vacation ownership resorts serving approximately 915,000 owners throughout the United States, Canada, Mexico, the Caribbean, and the South Pacific. Based in Parsippany, NJ, Wyndham Worldwide employs approximately 32,500 associates globally. For more information, please visit www.wyndhamworldwide.com.
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