Travel + Leisure Co. Successfully Executes $869 million Secured Term Loan B Facility Repricing
Travel Leisure Co. Common Stock (TNL)
Company Research
Source: Business Wire
ORLANDO, Fla.--(BUSINESS WIRE)--Travel + Leisure Co. (NYSE:TNL) announced today the closing of the Eighth Amendment to its Credit Agreement, which established new pricing terms for the $869 million of outstanding borrowings under the 2024 Term Loan B Facility. The repricing reduces the applicable interest rate on the 2024 Term Loan B Facility by 50 basis points from SOFR plus 2.50% to SOFR plus 2.00%. The 2024 Term Loan B Facility maturity date remains December 14, 2029.“We’re pleased with the outcome of this transaction. The repricing reflects the strength and consistency of our business model, the continued improvement in our credit profile, and the confidence lenders have in our long-term performance. Reducing our cost of capital enhances financial flexibility and supports the disciplined growth and value creation framework we’re executing across the company,” said Erik Hoag, Chief Financial Officer of Travel + Leisure Co.About Travel + Leisure Co.Travel + Leisure Co. (NYSE: TN
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