Wyndham completes largest timeshare ABS since 2007

By Jennifer Kang
18 Aug 2020

International hotel chain Wyndham Destinations completed a $575m timeshare securitization on Monday, boosted by strong investor demand and a low benchmark rate. The deal was increased by $175m, making it the largest term ABS from Wyndham since 2007.

Wyndham priced its class ‘A’ notes at 115bp over swaps, its ‘B’ notes at 215bp over and its ‘C’ notes at 335bp over. The final ‘D’ tranche was priced at 650bp over. On top of being increased, all four tranches were priced well through the lowest ...

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