Wyndham Worldwide Corp. has completed a term securitization deal called Sierra Timeshare 2011-2 Receivables Funding.

The deal comprised $202 million of 'A'-rated notes, $67 million of 'BBB' notes and $31 million of bonds rated 'BB'. The notes were backed by vacation ownership loans.

“The terms of this financing are among the best terms for an ABS deal by Wyndham Worldwide with a weighted average coupon of 4.01% and an advance rate of 92%,” said Tom Conforti, executive vice president and chief financial officer, Wyndham Worldwide."We continue to see strong investor support for our program.”

Sierra Timeshare 2011-2 Receivables Funding is an indirect subsidiary of Wyndham Vacation Ownership. The deal is a Rule 144A offering.

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