Travel + Leisure Co. Announces Pricing of $650 Million of Senior Secured Notes Due 2029
Travel Leisure Co. Common Stock (TNL)
Company Research
Source: Business Wire
ORLANDO, Fla.--(BUSINESS WIRE)--Travel + Leisure Co. (NYSE:TNL) announced today the pricing of its private offering (the "Offering") of $650 million aggregate principal amount of its senior secured notes due 2029 (the "Notes"). The Offering is expected to close on November 18, 2021. The closing of the Offering is subject to the satisfaction of customary and market conditions.The Company intends to use the net proceeds of this Offering, together with cash on hand, to redeem all of the Company’s outstanding 4.25% secured notes due March 2022 and to pay the related fees and expenses.The Notes will bear interest at the rate of 4.50% per year. Interest on the Notes will be payable semi-annually on June 1 and December 1 of each year, commencing June 1, 2022. The Notes will mature on December 1, 2029. The Notes were offered at a price of 100% of their principal amount.The Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), any state securit
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Earnings
- 4/24/24 - Beat
TNL
Sec Filings
- 4/24/24 - Form 8-K
- 4/5/24 - Form DEFA14A
- 4/5/24 - Form DEF
- TNL's page on the SEC website