Wyndham Worldwide Corp.'s hotel unit, which the hotelier is looking to spin off into a stand-alone company, is planning a private offering of $500 million of senior unsecured notes due 2026.

Wyndham Hotels & Resorts Inc. also aims to secure a $1.60 billion senior secured term loan B credit facility and a $750 million senior secured revolving credit facility.

Wyndham said the size of the notes offering and credit facilities may be adjusted depending on market conditions.

The unit will use proceeds from the notes offering and the facilities to fund the cash consideration for the planned purchase of La Quinta Holdings Inc.'s franchising and management businesses, to pay transaction-related costs and for general corporate purposes.

Wyndham said the revolver will remain undrawn at the closing of the La Quinta deal and the spin off.