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Wyndham Worldwide to launch $300 million term loan on Tuesday
By Sara Rosenberg
New York, May 14 – Wyndham Worldwide Corp. (Wyndham Destinations Inc.) is set to hold a bank meeting at 10 a.m. ET in New York on Tuesday to launch a $300 million seven-year covenant-light term loan, according to a market source.
Bank of America Merrill Lynch and J.P. Morgan Securities LLC are the lead arrangers on the deal.
Proceeds will be used to repay a portion of the company’s revolving credit facility borrowings.
Wyndham is a Parsippany, N.J.-based vacation ownership and exchange company.
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