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Wyndham unit lands variable funding note purchase facility

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Wyndham unit lands variable funding note purchase facility

A Wyndham Worldwide Corp. unit entered into a facility allowing it to issue up to $750 million of timeshare loan-backed variable funding notes from time to time.

The facility, which offers a 15-month commitment period followed by a 12-month amortization period, carries interest based on variable commercial paper rates or the London Interbank Offered Rate, plus a spread.

Wyndham Consumer Finance Inc. is the servicer, Wells Fargo Bank NA is the trustee and U.S. Bank NA is the collateral agent.