Travel + Leisure Co. has completed a $300 million term securitization transaction. The deal involved the issuance of asset-backed notes with an overall weighted average coupon of 5.52% and an advance rate of 98.00%. The notes were issued by Sierra Timeshare 2026-2 Receivables Funding LLC, an indirect subsidiary, and consist of $136 million of Class A Notes at 4.98%, $52 million of Class B Notes at 5.19%, $62 million of Class C Notes at 5.63%, and $50 million of Class D Notes at 7.19%. Chief Financial Officer Erik Hoag stated that the transaction provides efficient access to capital and reflects continued investor demand for the company's receivables platform.
Travel + Leisure CoCompleted $300M securitization at favorable rates, providing efficient capital access.