Travel + Leisure Co. closes $875M term loan B refinancing, extends maturity, saves ~$5M/yr interest

Travel & Leisure Co.

Established $875M 2024 Term Loan B Facility, matures December 14, 2029, at SOFR + 250 bps par.
Replaces and reprices $593M of 2023 term loan B; refinances $282M of 2018 term loan due May 2025.
Annual interest savings of nearly $5 million with no original issue discount.
Facility prepayable without premium except 1.00% if repriced within first six months.
CFO cited favorable market conditions and solid investor demand enabling the transaction.

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