Travel+%2B+Leisure+Co. (NYSE:TNL, Financial) announced today that it has completed a term securitization transaction involving the issuance of $275 million of asset-backed notes. Sierra Timeshare 2022-1 Receivables Funding LLC issued approximately $88 million of Class A Notes, approximately $81 million of Class B Notes, approximately $65 million of Class C Notes, and approximately $41 million of Class D Notes. The Class A Notes have a coupon of 3.05%, the Class B Notes have a coupon of 3.55%, the Class C Notes have a coupon of 3.94%, and the Class D Notes have a coupon of 6.00% for an overall weighted average coupon of 3.84%. The advance rate for this transaction was 98%.
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