Wyndham Destinations to sell $300 million 10.5-year secured notes; initial talk 4¾% area

By Abigail W. Adams

Portland, Me., Dec. 9 – Wyndham Destinations Inc. plans to price $300 million 10.5-year senior secured notes (Ba2/BB) on Tuesday with initial talk for a yield in the 4¾% area, according to a market source.

J.P. Morgan Securities LLC is lead on the Rule 144A and Regulation S offering.

The notes are non-callable for life.

Proceeds will be used for general corporate purposes, which may include the repayment of debt under its secured revolving credit facility.

Wyndham Destinations is an Orlando, Fla.-based timeshare company.

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