Wyndham Worldwide Completes $425 Million Term Securitization

Wyndham Worldwide Corporation (NYSE:  WYN) announced today that it has completed a term securitization transaction involving the issuance of $425 million of asset-backed notes. Sierra Timeshare 2016-1 Receivables Funding LLC issued $335 million of A rated notes and $90 million of BBB rated notes.  The notes were backed by vacation ownership loans and had coupons of 3.08% and 3.67%, respectively, for an…