Wyndham Hotels & Resorts readies $400 million secured notes offering

By Abigail W. Adams and Sara Rosenberg

Portland, Me., May 15 – Wyndham Hotels & Resorts Inc. is expected to bring a $400 million offering of senior secured notes as part of refinancing transactions for its term loan B, according to a market source.

The refinancing transactions also include a $750 million seven-year covenant-lite term loan B that is talked at SOFR+10 basis points CSA plus 225 bps to 250 bps with a 0% floor and an original issue discount of 99 to 99.5, Prospect News reported.

Proceeds will be used to refinance the company’s term loan B.

Wyndham is a Parsippany, N.J.-based hotel franchising company.

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