secwatch.observer — SEC 8-K summary
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Issuer:     Travel & Leisure Co. (TNL)
CIK:        0001361658
Form:       8-K
Filed at:   2023-12-21T23:59:59+00:00
Accession:  0001361658-23-000284
Event type: debt
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Travel + Leisure closes $598M term loan refinancing; rate lowered 75 bps
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- $298M refinanced the 2022 Incremental Term Loans; $300M new borrowings to repay 5.65% secured notes due April 2024.
- New term loans priced at SOFR + 3.25% plus 0.10% adjustment, 75 bps lower than prior facility.
- Maturity of the 2023 Term Loan B Facility is December 14, 2029.
- No prepayment penalty except 1% on repricing events in first six months.
- CFO Mike Hug said the transaction demonstrates strong investor appeal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1361658/000136165823000284/0001361658-23-000284-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1361658/000136165823000284/wyn-20231220.htm
  HTML page:      https://secwatch.observer/filing/0001361658-23-000284

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