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Wyndham Worldwide Prices $300 Million of Senior Unsecured Notes due 2024 and $400 Million of Senior Unsecured Notes due 2027
March 17, 2017 - Wyndham Worldwide Corporation (the "Company") announced 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 percent per year and the 2027 Notes will bear interest at the rate of 4.500 percent 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 percent of the principal amount and the 2027 Notes were offered to the public at a price of 99.775 percent 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: email@example.com.
12/1/2016 Wyndham Hotel Group Acquires Fën Hotels December 01, 2016 -
Wyndham Hotel Group announced its acquisition of Latin America's leading Fën Hotels on December 1, adding 26 management contracts across Argentina, Peru, Costa Rica, Uruguay, Paraguay, Bolivia, and the U.S.
10/26/2016 Wyndham Rewards Unveils Expansion of Loyalty Program October 26, 2016 -
Recognizing guests’ needs to travel differently from trip to trip, Wyndham Rewards unveiled plans to expand its award-winning program across one of the world’s largest hospitality companies, Wyndham Worldwide, starting with the immediate addition of more than 17,000 condos and homes to the program’s nearly 8,000 hotel redemption portfolio.
5/16/2016 Wyndham Hotel Group Multiplies Wingate and Hawthorn Footprint in Canada May 16, 2016 -
Wyndham Hotel Group announced multi-unit agreements with PHI Hotel Group to develop 25 Wingate by Wyndham hotels over the next 25 years and 15 Hawthorn Suites by Wyndham hotels over the next 15 years in order to expand the Canadian presence of two of its top-performing midscale brands.
1/23/2012 Wyndham Hotel Group Launches New Website to Drive Direct Business January 23, 2012 -
Busy travelers looking for a quick and easy way to search and book any hotel within the extensive Wyndham Hotel Group portfolio can now do so on www.wyndhamhotelgroup.com, a new website designed to engage consumers with the company’s family of brands while helping to drive incremental bookings for hotel owners.
7/26/2011 TRYP by Wyndham Brand Launches Marketing Campaign, Multilingual Website July 26, 2011 -
The TRYP by WyndhamTM select-service hotel brand today announced the launch of a new global marketing and advertising campaign and the debut of the brand’s revamped consumer website, www.tryphotels.com, available in five languages: English, Spanish, German, Portuguese and Brazilian Portuguese.
12/9/2010 Wyndham Worldwide Donates $60,000 Through Social Good Campaign December 09, 2010 -
Wyndham Worldwide (NYSE: WYN), one of the world's largest hospitality companies, announced that through its social good campaign, the company’s Wishes by Wyndham philanthropic program will donate $60,000 to be equally divided between its three signature charities: the Association of Hole in the Wall Camps, Christel House International and Starlight Children’s Foundation™.
11/2/2010 Wyndham’s China Growth Continues in the Heart of Xixi National Wetland Park November 02, 2010 -
Following the recent signings for three new luxury hotels in Boao, Wyndham Hotel Group (NYSE:WYN), one of the world’s largest hotel companies based on number of hotels, announced its continued expansion in China with the signing of a management agreement to open a luxury Wyndham Hotels and Resorts® property in Hangzhou’s Xixi National Wetland Park.
10/13/2010 Wyndham Continues Expansion With Three New Luxury Hotels in China October 13, 2010 -
Following the recent opening of two luxury hotels in the cities of Shanghai and Chengdu, Wyndham Hotel Group (NYSE: WYN), one of the world's largest hotel companies with nearly 7,200 hotels and 13 brands, announced its continued expansion in China with management agreements for three new Wyndham Hotels and Resorts® properties in Boao, located in south China's Hainan Island province.
10/5/2010 Wyndham Hotel Group Appoints Gareth Gaston SVP of Global E-Commerce October 05, 2010 -
Wyndham Hotel Group (NYSE: WYN), one of the world’s largest hotel companies with nearly 7,200 hotels, announced the appointment of Gareth Gaston as senior vice president, global e-commerce, responsible for driving the company’s online strategy and presence.
9/22/2010 Wyndham Worldwide to Acquire ResortQuest September 22, 2010 -
Wyndham Worldwide (NYSE:WYN) announced that its Exchange & Rentals business unit, a worldwide leader in vacation exchange and European leader in vacation rentals, has agreed to acquire ResortQuest, a leading provider in full-service vacation rentals in the United States.
8/10/2010 Microtel Hotels Celebrates Highest in Guest Satisfaction Ranking With Consumers August 10, 2010 -
The Microtel Inns & Suites® hotel brand is surprising guests with chances to win one of 135 prizes in celebration of its ninth consecutive year ranking as highest in guest satisfaction among economy/budget hotel chains by global marketing information services company J.D. Power and Associates.
4/6/2010 Wyndham Hotel Group CEO Honored for Industry Contributions April 06, 2010 -
Eric Danziger, president and CEO of Wyndham Hotel Group, part of the Wyndham Worldwide family of companies (NYSE: WYN), has been recognized by the Pacific Area Travel Writers Association International with the award for Lifetime Contribution in the Hospitality Industry.
7/21/2008 Wyndham Worldwide Completes Purchase of U.S. Franchise Systems July 21, 2008 -
Wyndham Worldwide Corporation announced it has completed the acquisition of U.S. Franchise Systems, Inc. and its Microtel Inns & Suites® and Hawthorn Suites® hotel brands from a subsidiary of Global Hyatt Corporation for a purchase price of $131 million.
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