Wyndham Worldwide Announces New Credit Facility

PARSIPPANY, N.J., July 18, 2011 /PRNewswire/ -- Wyndham Worldwide Corporation (NYSE: WYN) announced today the closing of a new $1 billion revolving credit facility to replace its existing $980 million facility, which had been scheduled to mature in October 2013. The maturity date of the new facility is July 15, 2016. There is no change to the Company's overall corporate debt balance as a result of this transaction.

"This financing extends the credit facility to a five year term, which strengthens our liquidity profile further and decreases our ongoing interest expense through more favorable pricing terms," said Tom Conforti, chief financial officer of Wyndham Worldwide Corporation. "All current relationship banks participated in the financing and several new participants were added. This demonstrates the banking community's confidence in Wyndham Worldwide."

J.P. Morgan Securities LLC and Bank of America Merrill Lynch acted as Joint Bookrunners for the new revolving credit facility.  Bank of America Merrill Lynch will be acting as administrative agent for the new revolving credit facility.  

About Wyndham Worldwide Corporation

As one of the world's largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality services and products across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Worldwide encompasses approximately 7,360 franchised hotels and vacation ownership resorts with approximately 630,300 rooms worldwide. Wyndham Exchange & Rentals offers leisure travelers, including its 3.8 million members, access to approximately 97,000 vacation properties located in approximately 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of vacation ownership resorts serving nearly 815,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 26,000 employees globally.

For more information about Wyndham Worldwide, please visit the Company's website at www.wyndhamworldwide.com.

SOURCE Wyndham Worldwide Corporation