April 13, 2018 / 2:56 PM / in 3 months

BRIEF-Wyndham Worldwide Announces Financings By Its Unit, Wyndham Hotels & Resorts, Inc.

April 13 (Reuters) - Wyndham Worldwide Corp:

* WYNDHAM WORLDWIDE ANNOUNCES FINANCINGS BY WYNDHAM HOTELS & RESORTS, INC., ITS SPIN-OFF SUBSIDIARY

* UNIT ARRANGED FOR COMMITMENTS FROM LENDERS FOR A $1.6 BILLION SENIOR SECURED TERM LOAN FACILITY

* UNIT HAS ISSUED $500 MILLION AGGREGATE PRINCIPAL AMOUNT OF SENIOR UNSECURED NOTES DUE 2026 IN A PRIVATE OFFERING

* TERM LOAN FACILITY IS EXPECTED TO CLOSE IN CONJUNCTION WITH CLOSING OF LA QUINTA DEAL

* LOANS UNDER REVOLVING CREDIT FACILITY WILL BECOME AVAILABLE TO BE DRAWN WHEN WYNDHAM HOTELS SPIN-OFF OCCURS

* SENIOR SECURED TERM LOAN FACILITY MATURES IN 2025

* UNIT ALSO ARRANGED FOR $750 MLN SENIOR SECURED REVOLVING FACILITY, UNDER WHICH NO BORROWINGS EXPECTED TO BE OUTSTANDING ON SPIN-OFF

* PROCEEDS FROM TERM LOAN FACILITY, NOTES EXPECTED TO BE USED TO FINANCE CO’S PLANNED ACQUISITION OF CERTAIN OF LA QUINTA’S BUSINESSES Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below