secwatch.observer — SEC 8-K summary
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Issuer:     Travel & Leisure Co. (TNL)
CIK:        0001361658
Form:       8-K
Filed at:   2025-06-25T23:59:59+00:00
Accession:  0001361658-25-000226
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Travel + Leisure Co. amends $1B credit facility, extends maturity to 2030, reduces pricing
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1361658/000136165825000226/0001361658-25-000226-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1361658/000136165825000226/wyn-20250625.htm
  HTML page:      https://secwatch.observer/filing/0001361658-25-000226

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