Travel + Leisure Co. (NYSE: TNL) announced it has launched a private offering of $900 million in senior secured notes due 2031, subject to customary market conditions.

The company plans to use proceeds from the offering to redeem all outstanding 6.625% secured notes due July 2026, repay borrowings under its revolving credit facility, and fund general corporate purposes with any remaining proceeds.

The notes are being offered exclusively to qualified institutional buyers under Rule 144A of the Securities Act or to non-U.S. persons in offshore transactions under Regulation S. The securities have not been registered under the Securities Act of 1933 or state securities laws.

A confidential offering memorandum dated today is being made available to eligible investors. The offering is being conducted according to terms and conditions outlined in the memorandum.

Travel + Leisure Co. operates as a leisure travel company, providing vacations to more than six million travelers annually. The company's portfolio includes vacation ownership, travel club, and lifestyle travel brands such as Club Wyndham, WorldMark, and RCI, along with experiential brands including Sports Illustrated Resorts and Margaritaville Vacation Club.

The information is based on a company press release statement.