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Wyndham Worldwide Prices $300 Million of Senior Unsecured Notes due 2024 and $400 Million of Senior Unsecured Notes due 2027

PARSIPPANY, N.J., March 16, 2017 /PRNewswire/ -- Wyndham Worldwide Corporation (WYN) (the "Company") announced today the pricing of the public offering of $300 million aggregate principal amount of its senior unsecured notes due 2024 (the "2024 Notes") and $400 million aggregate principal amount of its senior unsecured notes due 2027 (the "2027 Notes" and collectively with the 2024 Notes, the "notes"). The notes offering is expected to close on March 21, 2017. The closing of the notes offering is subject to the satisfaction of customary and market conditions. The Company intends to use the net proceeds of this offering for general corporate purposes, which may include working capital, capital expenditures, acquisitions, stock repurchases or repayment of outstanding commercial paper or other borrowings.

The 2024 Notes will bear interest at the rate of 4.150% per year and the 2027 Notes will bear interest at the rate of 4.500% 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 on the notes will be payable semi-annually on April 1 and October 1 of each year, commencing October 1, 2017. The 2024 Notes will mature on April 1, 2024 and the 2027 Notes will mature on April 1, 2027. The 2024 Notes were offered to the public at a price of 99.818% of the principal amount and the 2027 Notes were offered to the public at a price of 99.775% of the principal amount.

J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC are acting as the joint book-running managers for the notes offering.

The notes are being offered pursuant to an effective shelf registration statement that has previously been filed with the Securities and Exchange Commission (the "SEC").  This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. Any offer, or solicitation to buy, if at all, will be made only by means of a prospectus and related prospectus supplement filed with the SEC.  You may obtain these documents without charge by visiting EDGAR on the SEC website at www.sec.gov.  Alternatively, you may request copies of these materials by contacting J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, telephone: 212-­834-4533; Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005-2836, Attention: Prospectus Group, telephone: 800-503-4611 or e-mail: prospectus.CPDG@db.com; and Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attention: WFS Customer Service, telephone: 800-645-3751 or email: wfscustomerservice@wellsfargo.com.

About Wyndham Worldwide Corporation

Wyndham Worldwide (WYN) is one of the largest global hospitality companies, providing travelers with access to a collection of trusted hospitality brands in hotels, vacation ownership, and unique accommodations including vacation exchange, holiday parks, and managed home rentals. With a collective inventory of nearly 130,000 places to stay across more than 100 countries on six continents, Wyndham Worldwide and its 38,000 associates welcomes people to experience travel the way they want. This is enhanced by Wyndham Rewards®, the Company's re-imagined guest loyalty program across its businesses, which is making it simpler for members to earn more rewards and redeem their points faster. For more information, please visit www.wyndhamworldwide.com.

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, 2016, filed with the SEC on February 17, 2017. 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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