PARSIPPANY, N.J., Sept. 10, 2015 /PRNewswire/ -- Wyndham
Worldwide Corporation (NYSE: WYN) (the "Company") announced
today the pricing of the public offering of $350
million aggregate principal amount of its senior unsecured
notes due 2025 (the "notes"). The notes offering is expected to
close on September 15, 2015. The closing of the notes
offering is subject to customary and market conditions. The
Company intends to use the net proceeds of this offering for
the repayment, redemption, repurchase, defeasance or other
retirement of certain outstanding indebtedness, including
commercial paper and debt outstanding under its revolving credit
facility, and for general corporate purposes.
The notes will bear interest at the rate of 5.100% per
year. The interest rate payable on the notes will be subject to
adjustments from time to time if there are downgrades to the credit
ratings assigned to the notes. Interest will be payable
semi-annually on April 1
and October 1 of each year, commencing April 1, 2016. The
notes will mature on October 1, 2025. The notes were offered
to the public at a price of 99.966% of the principal
amount.
J.P. Morgan Securities LLC, Goldman, Sachs & Co.
and Merrill Lynch, Pierce Fenner & Smith
Incorporated are acting as the joint book-running managers for the
notes offering. Interested parties may obtain a written prospectus
for the notes offering from any of J.P. Morgan Securities
LLC, 383 Madison Avenue, New York, NY 10179,
Attention: Investment Grade Syndicate Desk, telephone:
212-834-4533; Goldman, Sachs & Co., 200 West Street,
New York, NY 10282, Attention:
Prospectus Department, telephone: 212-902-1171, facsimile:
212-902-9316, e-mail: prospectus-ny@ny.email.gs.com; and Merrill
Lynch, Pierce Fenner & Smith Incorporated, 222
Broadway, 7th Floor, New York, NY 10038, Attention:
Prospectus Department, email:
dg.prospectus_requests@baml.com.
This news release shall not constitute an offer to sell, a
solicitation to buy or an offer to purchase or sell any securities.
Any offer of the securities will be made only by means of a
prospectus, forming a part of the effective registration statement,
the applicable prospectus supplement and other related
documents.
About Wyndham Worldwide Corporation
One of the world's largest hospitality
companies, Wyndham Worldwide (NYSE: WYN) provides a wide
range of hospitality services and products through its global
portfolio of world-renowned brands. The world's largest hotel
company based on the number of properties, Wyndham Hotel
Group has many of the world's best-known hotel brands, with
approximately 7,700 franchised hotels and over 668,500 hotel rooms
worldwide. Wyndham Exchange & Rentals is the worldwide leader
in vacation exchange and the world's largest professionally managed
vacation rentals business, providing more than 5 million
leisure-bound families annually with access to approximately
110,000 vacation properties in over 100 countries through its
prominent exchange and vacation rental brands. The industry and
timeshare ownership market leader, Wyndham Vacation Ownership
develops, markets, and sells vacation ownership interests and
provides consumer financing to owners through its network of over
210 vacation ownership resorts serving approximately 901,000 owners
throughout the United States, Canada, Mexico,
the Caribbean, and the South Pacific. Based
in Parsippany, NJ, Wyndham Worldwide employs over
34,000 associates globally.
Forward-Looking Statements
This press release contains "forward-looking statements"
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended. Forward-looking statements are any
statements other than statements of historical fact.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Factors that could cause actual results to
differ materially from those in the forward-looking statements
include general economic conditions, the performance of the
financial and credit markets, the economic environment for the
hospitality industry, the impact of war, terrorist activity or
political strife, operating risks associated with the hotel,
vacation exchange and rentals and vacation ownership businesses, as
well as those described in the Company's Annual Report on Form 10-K
for the fiscal year ended December 31,
2014, filed with the SEC on February 13, 2015. Except for the Company's
ongoing obligations to disclose material information under the
federal securities laws, it undertakes no obligation to release
publicly any revisions to any forward-looking statements, to report
events or to report the occurrence of unanticipated
events.
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SOURCE Wyndham Worldwide Corporation