Wyndham Worldwide has raised $250 million in a sale of senior unsecured notes, due March 1, 2021. The senior unsecured notes carry a coupon rate of 5.625% per year payable semi-annually on March 1 and Sept. 1 of every year. The holding company for Wyndham Hotels & Resorts intends to use the net proceeds to lower remaining indebtedness and repayment of borrowings under a revolving credit facility. Credit Suisse Securities, JP Morgan Securities and Merrill Lynch, Pierce, Fenner & Smith acted as joint book-running managers for the notes offering.
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