Travel + leisure co. completes $500 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 $500 million of asset-backed notes. sierra timeshare 2021-1 receivables funding llc issued $165 million of class a notes, $151 million of class b notes, $121 million of class c notes and $64 million of class d notes. the class a notes have a coupon of 0.99%, the class b notes have a coupon of 1.34%, the class c notes have a coupon of 1
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