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PARSIPPANY, N.J. 10-05-2010 —Wyndham Worldwide Corporation (NYSE:WYN) today announced that its securitized timeshare receivables conduit facility was renewed through September 2011. The 364-day facility bears interest based on variable commercial paper rates plus a spread or the LIBOR rate plus a spread and has capacity of $600 million.
"The conduit is a valuable source of liquidity. With terms more favorable than the last conduit renewal, this transaction demonstrates the continued commitment of our lending banks and the strength of Wyndham’s business model,"” said Tom Conforti, Chief Financial Officer, Wyndham Worldwide.
"The conduit is a valuable source of liquidity. With terms more favorable than the last conduit renewal, this transaction demonstrates the continued commitment of our lending banks and the strength of Wyndham’s business model,"” said Tom Conforti, Chief Financial Officer, Wyndham Worldwide.