Travel & Leisure Co. (TNL): debt financing — Travel + Leisure Co. issues $500M 6.125% senior secured notes due 2033 to redeem 2025 notes

Travel & Leisure Co.

Issued $500M of 6.125% senior secured notes due 2033; net proceeds to redeem all $500M 6.60% secured notes due Oct 2025.
Notes priced with optional redemption at make-whole prior to Aug 15, 2028; thereafter at specified premiums, par after Aug 15, 2030.
Redemption of 2025 Notes set for September 4, 2025; conditions precedent satisfied.
Proceeds also used to repay revolver borrowings and pay offering fees; remaining for general corporate purposes.
Notes are senior secured, equal in right with existing senior debt; not guaranteed but subsidiary guarantees may be added later.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

Travel & Leisure Co. incurred senior notes of $500,000,000 aggregate principal amount with BofA Securities, Inc. and certain other initial purchasers at 6.125% per year maturing due 2033.

Instrument: senior notes
Principal: $500,000,000 aggregate principal amount
Counterparty: BofA Securities, Inc. and certain other initial purchasers
Rate: 6.125% per year
Maturity: due 2033
Event: incurrence

Exact text from the filing

the issuance and sale of $500,000,000 aggregate principal amount of 6.125% senior secured notes due 2033

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Travel & Leisure Co. filing history →

Source: SEC EDGAR

accession 0001361658-25-000291

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