Wyndham Worldwide Corporation (NYSE:WYN) Files An 8-K Entry into a Material Definitive Agreement

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Wyndham Worldwide Corporation (NYSE:WYN) Files An 8-K Entry into a Material Definitive Agreement
Item 2.03. Entry into a Material Definitive Agreement.

On October5, 2017, Sierra Timeshare Conduit Receivables Funding III, LLC (the “Issuer”), an indirect, wholly-owned subsidiary of Wyndham Worldwide Corporation, entered into a timeshare loan-backed variable funding note purchase facility, Series2017-A (the “Facility”). The terms of the Facility are governed by an Indenture and Servicing Agreement, dated as of October5, 2017, by and among the Issuer, Wyndham Consumer Finance,Inc., as Servicer, Wells Fargo Bank, National Association, as Trustee and U.S. Bank National Association, as Collateral Agent (the “Indenture”).

Under the Indenture, the Issuer can issue, from time to time, timeshare loan-backed variable funding notes in a maximum principal amount of $750million. The facility bears interest based on variable commercial paper rates plus a spread or the LIBOR rate plus a spread. The Facility provides for a 15 month commitment period followed by a 12 month amortization period.

Certain of the participants in the Facility, the Trustee and the Collateral Agent, and their respective affiliates, have performed and may in the future perform, various commercial banking, investment banking and other financial advisory services for us and our subsidiaries, for which they have received, and will receive, customary fees and expenses.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information included in Item 2.03 is incorporated herein by reference.


About Wyndham Worldwide Corporation (NYSE:WYN)

Wyndham Worldwide Corporation is a hospitality company. The Company offers a range of hospitality services and products through its global portfolio of brands. The Company operates through three segments: Hotel Group, Destination Network and Vacation Ownership. The Hotel Group segment has approximately 7,800 hotels and over 678,000 hotel rooms around the world. The Destination Network segment has over 112,000 vacation accommodations, located in approximately 100 countries. The Vacation Ownership segment has over 220 resorts and approximately 897,000 owners. Its brands include Wyndham Hotels and Resorts, Ramada, Days Inn, Super 8, Howard Johnson, Wingate by Wyndham, Microtel Inns & Suites by Wyndham, TRYP by Wyndham, Dolce Hotels and Resorts, RCI, Landal GreenParks, Novasol, Hoseasons, cottages.com, James Villa Holidays, Wyndham Vacation Rentals, Wyndham Vacation Resorts, Shell Vacations Club and WorldMark by Wyndham.

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