Wyndham Completes $1bn Credit Facility Deal

19th July 2011 (Last Updated July 19th, 2011 18:30)

Wyndham Worldwide has completed a new $1bn revolving credit facility. According to Wyndham, the new facility will mature on 15 July 2016 and replace its existing $980m facility, which was scheduled to mature on October 2013. Wyndham Worldwide CFO Tom Conforti said the financi

Wyndham Worldwide has completed a new $1bn revolving credit facility.

According to Wyndham, the new facility will mature on 15 July 2016 and replace its existing $980m facility, which was scheduled to mature on October 2013.

Wyndham Worldwide CFO Tom Conforti said the financing extends the credit facility to a five-year term, which strengthens the company’s liquidity profile and decreases the ongoing interest expense.

Wyndham Worldwide includes 7,360 franchised hotels and holiday ownership resorts with approximately 630,300 rooms worldwide.