Wyndham Worldwide Corporation (NYSE:WYN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
On April6, 2018, Sierra Timeshare Conduit Receivables Funding II, LLC, an indirect, wholly-owned subsidiary of Wyndham Worldwide Corporation, renewed its securitized timeshare receivables conduit facility, extending the end of the commitment period from August23, 2018 to April6, 2020 and increasing its capacity to $800 million. The facility bears interest based on variable commercial paper rates plus a spread or LIBOR plus a spread.
The renewal involved execution of an Eighth Amendment, dated as of April6, 2018, to the Amended and Restated Indenture and Servicing Agreement, dated as of October1, 2010, by and among Sierra Timeshare Conduit Receivables Funding II, LLC, Wyndham Consumer Finance,Inc., as Servicer, Wells Fargo Bank, National Association, as Trustee and U.S. Bank National Association, as Collateral Agent.
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.
