02:31 PM EDT, 07/22/2024 (MT Newswires) -- Travel + Leisure ( TNL ) said Monday it has completed a $375 million term securitization transaction, issuing asset-backed notes with an average coupon of roughly 5.6% and a 96% advance rate.

The notes, issued by Travel + Leisure's ( TNL ) indirect subsidiary Sierra Timeshare 2024-2 Receivables Funding, include $169 million Class A notes, $82 million Class B notes, $87 million Class C notes, and $37 million Class D notes, the company said.

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