PARSIPPANY, N.J. (August 29, 2014) — Wyndham Worldwide Corporation (NYSE: WYN) today announced that its securitized timeshare receivables conduit facility was renewed through August 2016. 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 2015.
About Wyndham Worldwide Corporation
One of the world’s largest hospitality companies, Wyndham Worldwide 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 approximately 7,500 franchised hotels and 650,200 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 107,000 vacation properties in over 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 over 200 vacation ownership resorts serving approximately 907,000 owners throughout the United States, Canada, Mexico, the Caribbean, and the South Pacific. Based in Parsippany, NJ, Wyndham Worldwide employs approximately 32,800 associates globally. For more information, please visit www.wyndhamworldwide.com.
SOURCE Wyndham Worldwide Corporation