Wyndham Worldwide Corporation announced that it has completed two term securitization transactions involving the issuance of $350 million of investment-grade asset-backed notes.

Sierra Timeshare 2009-2 Receivables Funding LLC issued $175 million of triple-A rated vacation ownership loan backed notes, which have an advance rate of 55% and a coupon of 4.52%. Sierra Timeshare 2009-3 Receivables Funding LLC issued $175 million of single-A rated vacation ownership loan backed notes, which have an advance rate of 70% and a coupon of 7.62%.

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