Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Travel & Leisure Co. incurred term loan of $300 million with Bank of America, N.A. (as administrative agent) and the lenders at Base Rate plus 3.00% or Term SOFR plus 4.00% (subject to floor of 0.50%) maturing December 14, 2029.
- Instrument
- term loan
- Principal
- $300 million
- Counterparty
- Bank of America, N.A. (as administrative agent) and the lenders
- Rate
- Base Rate plus 3.00% or Term SOFR plus 4.00% (subject to floor of 0.50%)
- Maturity
- December 14, 2029
- Event
- incurrence
Exact text from the filing
The Third Amendment, among other things, provides for an incremental term loan of $300 million (the “Incremental Term Loan”), which was issued with an original issue discount of 97.5%.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Travel & Leisure Co. amended Third Amendment with Bank of America, N.A. valued at $300 million (effective 2022-12-14).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Bank of America, N.A.
- Value
- $300 million
- Effective
- 2022-12-14
Exact text from the filing
On December 14, 2022, Travel + Leisure Co. (the “Borrower”) entered into the Third Amendment (the “Third Amendment”) to the Credit Agreement, dated as of May 31, 2018, with Bank of America, N.A., as administrative agent, the several lenders from time to time party thereto, and the other parties thereto (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).
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