Travel & Leisure Co. (TNL): debt financing — Travel + Leisure Co. amends $1B credit facility, extends maturity to 2030, reduces pricing

Travel & Leisure Co.

New $1B revolving credit facility matures June 2030, refinances prior facility due Oct 2026.
Spread on borrowings reduced by 25 bps; Term SOFR credit spread adjustment eliminated.
Minimum interest coverage ratio lowered from 2.50:1 to 2.00:1; SOFR floor cut to 0.00%.
Covenants expanded and incurrence baskets increased to provide greater flexibility.
CFO Erik Hoag says improved terms reflect business stability and strengthen balance sheet.

Key facts

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. amended revolving credit of $1.0 billion with Bank of America, N.A. at Term SOFR plus a spread ranging from 1.50% to 2.00% maturing June 2030.

Instrument: revolving credit
Principal: $1.0 billion
Counterparty: Bank of America, N.A.
Rate: Term SOFR plus a spread ranging from 1.50% to 2.00%
Maturity: June 2030
Event: amendment

Exact text from the filing

The Seventh Amendment, among other things, established a new revolving credit facility with $1.0 billion in revolving credit commitments that is scheduled to mature in June 2030

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101 debt financings filed in the last 30 days. Browse all debt financings →

Travel & Leisure Co. filing history →

Source: SEC EDGAR

accession 0001361658-25-000226

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