debt
confidence high
sentiment neutral
materiality 0.60
Wyndham issues $650M 5.625% senior notes due 2033 to repay credit facility debt
WYNDHAM HOTELS & RESORTS, INC.
- Issued $650M aggregate principal of 5.625% senior notes due March 1, 2033; interest paid semi-annually.
- Net proceeds used to repay all outstanding borrowings under term loan A and revolving credit facility.
- Notes are senior unsecured obligations, guaranteed by certain domestic subsidiaries.
- Optional redemption: make-whole prior to March 2029; thereafter at 102.813% declining to par in 2031.
- Upon a change of control triggering event, holders may require repurchase at 101% of principal.
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