March 22, 2010 (FinancialWire) — Wyndham Worldwide Corp. (NYSE: WYN) said it has completed a term securitization transaction involving the issuance of $300 million of investment-grade asset-backed notes.

In the deal, Sierra Timeshare 2010-1 Receivables Funding LLC issued $300 million of vacation ownership loan backed notes, which have an advance rate of 72.25% and a coupon of 4.48%. Sierra Timeshare 2010-1 Receivables Funding LLC is an indirect subsidiary of Wyndham Vacation Ownership.

New Jersey-based Wyndham Worldwide is a hospitality firm. Its Wyndham Hotel Group encompasses around 7,110 franchised hotels and around 597,700 hotel rooms worldwide.

Wyndham Exchange and Rentals offers leisure travelers, including its 3.8 million members, access to over 65,000 vacation properties located in around 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of over 155 vacation ownership resorts serving over 820,000 owners throughout North America, the Caribbean and the South Pacific.

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