Travel + leisure co. completes $250 million term securitization

Orlando, fla.--(business wire)--travel + leisure co. (nyse:tnl) announced today that it has completed a term securitization transaction involving the issuance of $250 million in principal amount of asset-backed notes with an overall weighted average coupon of 6.33%. sierra timeshare 2023-1 receivables funding llc issued $95 million of class a notes, $66 million of class b notes, $60 million of class c notes, and $29 million of class d notes. the class a notes have a coupon of 5.
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