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Travel + Leisure Co. Announces Launch of Senior Secured Notes Offering

1. TNL launched a $500 million private offering of senior secured notes. 2. Proceeds will redeem existing 6.60% secured notes due October 2025.

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FAQ

Why Bullish?

Redeeming high-interest debt lowers future interest obligations, which can improve cash flow and financial stability. This is analogous to past examples where refinancing led to stock price appreciation.

How important is it?

The announcement pertains directly to TNL’s capital structure and future financial health, impacting investor confidence significantly.

Why Short Term?

The immediate effects on TNL’s financials and investor sentiment are likely to manifest quickly following the announcement.

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ORLANDO, Fla.--(BUSINESS WIRE)--Travel + Leisure Co. (NYSE:TNL) (the “Company”) announced today that it has launched a private offering (the "Offering") of $500 million aggregate principal amount of senior secured notes due 2033 (the "Notes"), subject to customary and market conditions. The Company intends to use the net proceeds of this Offering to redeem all of the Company's outstanding 6.60% secured notes due October 2025, towards repayment of outstanding borrowings under our revolving credi.

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