Wyndham Destinations talks $300 million 10.5-year secured bullet at 4½%-4¾%; pricing Tuesday

By Paul A. Harris

Portland, Ore., Dec. 10 – Wyndham Destinations Inc. talked its $300 million offering of 10.5-year senior secured bullet notes (Ba2/BB) to yield 4½% to 4¾%, according to market sources.

Official talk comes tight to early guidance in the 4¾% area.

The Rule 144A and Regulation S offering, which is being managed by J.P. Morgan Securities LLC, is set to price on Tuesday.

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

Wyndham is a Parsippany, N.J.-based vacation ownership and exchange company.

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