Travel + Leisure Co. Completes $300 Million Term Securitization

ORLANDO, Fla.--(BUSINESS WIRE)-- Travel + Leisure Co. (NYSE: TNL) announced today it completed a term securitization transaction involving the issuance of $300 million in principal amount of asset-backed notes with an overall weighted average coupon of 5.52%. The advance rate for this transaction was 98.00%.

“The ABS market has long been an important funding source for our business. This transaction provides efficient access to capital with attractive economics and reflects the continued investor demand for our receivables platform,” said Erik Hoag, Chief Financial Officer of Travel + Leisure Co. “Maintaining consistent access to capital provides the financial flexibility necessary to invest in our business while preserving a strong balance sheet.”

Sierra Timeshare 2026-2 Receivables Funding LLC issued $136 million of Class A Notes, $52 million of Class B Notes, $62 million of Class C Notes, and $50 million of Class D Notes. The Class A Notes have a coupon of 4.98%, the Class B Notes have a coupon of 5.19%, the Class C Notes have a coupon of 5.63%, and the Class D Notes have a coupon of 7.19%.

Sierra Timeshare 2026-2 Receivables Funding LLC is an indirect subsidiary of Travel + Leisure Co. 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.

About Travel + Leisure Co.

Travel + Leisure Co. (NYSE: TNL) is a leading leisure travel company, providing more than six million vacations to travelers around the world every year. The company operates a diverse portfolio of vacation ownership, travel club, and lifestyle travel brands designed to meet the needs of the modern leisure traveler, whether they’re traversing the globe or enjoying destinations closer to home. This includes experiential brands such as Sports Illustrated Resorts, Eddie Bauer Adventure Club, Margaritaville Vacation Club, and Accor Vacation Club, as well as cornerstone brands, Club Wyndham, WorldMark, and RCI. With hospitality and responsible tourism at its heart, the company’s more than 19,000 dedicated associates worldwide help fulfill its mission to put the world on vacation. Learn more at travelandleisureco.com.

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Source: Travel + Leisure Co.

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