Wyndham Worldwide Prices $250 Million of Senior Unsecured Notes

PARSIPPANY, N.J., Feb. 22 /PRNewswire-FirstCall/ -- Wyndham Worldwide Corporation (NYSE: WYN) today announced the pricing of the public offering of $250 million aggregate principal amount of its senior unsecured notes due 2020. The senior unsecured notes offering is expected to close on February 25, 2010.  Wyndham Worldwide intends to use the aggregate net proceeds from the offering to repay indebtedness including its Australia credit facility due June 2010.

The senior unsecured notes will bear interest at a rate of 7.375% per year payable semi-annually on March 1 and September 1 of each year, commencing September 1, 2010. The notes will mature on March 1, 2020. The notes were offered to the public at a price of 99.998% of principal amount.

"The successful execution of this offering and the retirement of the Australia debt are meaningful steps toward our goals of further improving our investment-grade credit profile and strengthening our capital structure and liquidity," said Tom Conforti, Chief Financial Officer, Wyndham Worldwide.  

Banc of America Securities LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities, Inc. and J.P. Morgan Securities Inc. are acting as joint book-running managers for the notes offering. Interested parties may obtain a written prospectus for the notes offering from any of  Banc of America Securities LLC, 100 West 33rd Street, New York, New York, 10001, Attention: Prospectus Department, telephone toll-free at 1-800-294-1322; Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, New York 10010, telephone at 1-800-221-1037; Deutsche Bank Securities Inc., Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey 07311-3988, telephone toll-free at 1-800-503-4611; or J.P. Morgan Securities Inc., 270 Park Avenue, New York, New York, 10017, Attention: High Grade Syndicate Desk, 8th Floor, telephone collect at 1-212-834-4533.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.  Any offer of the securities will be made only by means of a prospectus, forming a part of the effective registration statement, the applicable prospectus supplement and other related documents.

About Wyndham Worldwide

As one of the world's largest hospitality companies, Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Hotel Group encompasses approximately 7,110 franchised hotels and approximately 597,700 hotel rooms worldwide. Wyndham Exchange and Rentals offers leisure travelers, including its 3.8 million members, access to over 65,000 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 over 155 vacation ownership resorts serving over 820,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 25,000 employees globally.

Forward–Looking Statements

This press release contains statements that constitute "forward–looking statements," including with regard to Wyndham Worldwide's offering and the anticipated use of the net proceeds therefrom. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. No assurance can be given that the securities offering discussed above will be consummated on the terms described or at all. Consummation of the offering is subject to closing conditions, many of which are beyond the control of Wyndham Worldwide. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

SOURCE Wyndham Worldwide Corporation

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