Wyndham Destinations priced a $400m timeshare ABS on Tuesday, adding to the growing list of esoteric transactions brought to market this year. Esoteric ABS volume stands at $7.34bn year to date, making it the largest category after auto ABS.
The senior class ‘A’ notes were priced at 72bp over interpolated swaps, and were given a triple-A rating by both Fitch and S&P. The class ‘B’ notes were priced at 95bps over interpolated swaps, and were given a flat A rating. (For full pricing details, see GlobalCapital’s
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