Wyndham Worldwide Corp. announced that it has completed a term securitization. The firm issued $225 million of investment grade ABS notes via Sierra Timeshare 2009-1 Receivables Funding, an indirect subsidiary of Wyndham Vacation Ownership.
The notes are backed by vacation ownership receivables originated by subsidiaries of Wyndham Vacation Ownership.
The transaction was completed in reliance upon Rule 144A and Regulation S as a placement of securities not registered under the Securities Act of 1933, as amended, or any state securities law.
All of such securities having been sold, this announcement of their sale appears as a matter of record only.