Latest news with #ErikHoag
Associated Press
22-07-2025
- Business
- Associated Press
Travel + Leisure Co. Completes $300 Million Term Securitization
ORLANDO, Fla.--(BUSINESS WIRE)--Jul 22, 2025-- Travel + Leisure Co. (NYSE:TNL) announced today it completed a term securitization transaction involving the issuance of $300 million in principal amount of asset-backed notes with an overall weighted average coupon of 5.10%. The advance rate for this transaction was 98.00%. 'This transaction once again demonstrates the strength of our business model and our ability to continue to access capital,' said Erik Hoag, Chief Financial Officer of Travel + Leisure Co. 'The strong investor demand allowed us to tighten spread levels across the capital structure. As a result, we were able to price with an all-in coupon of 5.10%, which is the tightest level achieved since early 2022. We are excited about the closing of this transaction, its terms, and the enhancement it provides to our liquidity position.' Sierra Timeshare 2025-2 Receivables Funding LLC issued $143 million of Class A Notes, $67 million of Class B Notes, $59 million of Class C Notes, and $31 million of Class D Notes. The Class A Notes have a coupon of 4.72%, the Class B Notes have a coupon of 4.93%, the Class C Notes have a coupon of 5.32%, and the Class D Notes have a coupon of 6.79%. Sierra Timeshare 2025-2 Receivables Funding LLC is an indirect subsidiary of Travel + Leisure Co. The transaction was completed in reliance upon Rule 144A and Regulation S as a placement of securities not registered under the Securities Act of 1933, as amended, or any state securities law. All of such securities having been sold, this announcement of their sale appears as a matter of record only. About Travel + Leisure Co. Travel + Leisure Co. (NYSE:TNL) is a leading leisure travel company, providing more than six million vacations to travelers around the world every year. The company operates a portfolio of vacation ownership, travel club, and lifestyle travel brands designed to meet the needs of the modern leisure traveler, whether they're traversing the globe or staying a little closer to home. With hospitality and responsible tourism at its heart, the company's nearly 19,000 dedicated associates around the globe help the company achieve its mission to put the world on vacation. View source version on CONTACT: Investors: Investor Relations [email protected] Contact: Public Relations [email protected] KEYWORD: UNITED STATES NORTH AMERICA FLORIDA INDUSTRY KEYWORD: PUBLISHING MARKETING COMMUNICATIONS OTHER TRAVEL LODGING VACATION DESTINATIONS TOURIST ATTRACTIONS CRUISE TRAVEL SOURCE: Travel + Leisure Co. Copyright Business Wire 2025. PUB: 07/22/2025 12:30 PM/DISC: 07/22/2025 12:31 PM
Yahoo
26-06-2025
- Business
- Yahoo
Travel + Leisure Co. to Report Second Quarter 2025 Financial Results on July 23, 2025
ORLANDO, Fla., June 26, 2025--(BUSINESS WIRE)--Travel + Leisure Co. (NYSE:TNL) announced today it will release second quarter 2025 financial results on Wednesday, July 23, 2025, before the market opens, followed by a conference call at 8:00 a.m. EDT. Michael D. Brown, President and CEO, and Erik Hoag, CFO, will discuss the Company's business outlook and financial performance. Participants may listen to a simultaneous webcast of the conference call, which may be accessed through the Company's website at or by dialing 877-733-4794 ten minutes before the scheduled start time. For those unable to listen to the live broadcast, an archive of the webcast will be available on the Company's website for 90 days beginning at 12:00 p.m. EDT on July 23, 2025. About Travel + Leisure Co. Travel + Leisure Co. (NYSE:TNL) is a leading leisure travel company, providing more than six million vacations to travelers around the world every year. The company operates a portfolio of vacation ownership, travel club, and lifestyle travel brands designed to meet the needs of the modern leisure traveler, whether they're traversing the globe or staying a little closer to home. With hospitality and responsible tourism at its heart, the company's nearly 19,000 dedicated associates around the globe help the company achieve its mission to put the world on vacation. Learn more at View source version on Contacts Investors: Investor RelationsIR@ Media:Public RelationsMedia@ Sign in to access your portfolio
Business Wire
26-06-2025
- Business
- Business Wire
Travel + Leisure Co. to Report Second Quarter 2025 Financial Results on July 23, 2025
ORLANDO, Fla.--(BUSINESS WIRE)-- Travel + Leisure Co. (NYSE:TNL) announced today it will release second quarter 2025 financial results on Wednesday, July 23, 2025, before the market opens, followed by a conference call at 8:00 a.m. EDT. Michael D. Brown, President and CEO, and Erik Hoag, CFO, will discuss the Company's business outlook and financial performance. Participants may listen to a simultaneous webcast of the conference call, which may be accessed through the Company's website at or by dialing 877-733-4794 ten minutes before the scheduled start time. For those unable to listen to the live broadcast, an archive of the webcast will be available on the Company's website for 90 days beginning at 12:00 p.m. EDT on July 23, 2025. About Travel + Leisure Co. Travel + Leisure Co. (NYSE:TNL) is a leading leisure travel company, providing more than six million vacations to travelers around the world every year. The company operates a portfolio of vacation ownership, travel club, and lifestyle travel brands designed to meet the needs of the modern leisure traveler, whether they're traversing the globe or staying a little closer to home. With hospitality and responsible tourism at its heart, the company's nearly 19,000 dedicated associates around the globe help the company achieve its mission to put the world on vacation. Learn more at
Business Wire
25-06-2025
- Business
- Business Wire
Travel + Leisure Co. Successfully Amends Credit Agreement to Extend Maturity and Improve Terms of its $1 Billion Revolving Credit Facility
ORLANDO, Fla.--(BUSINESS WIRE)-- Travel + Leisure Co. (NYSE:TNL) announced today the closing of the Seventh Amendment to its Credit Agreement, which established a new $1 billion revolving credit facility scheduled to mature in June 2030 on improved terms, refinancing the Company's previous $1 billion revolving credit facility that was scheduled to mature in October 2026. The Seventh Amendment, among other things, reduces pricing spreads on borrowings and letters of credit by 25 basis points, eliminates a legacy Term SOFR credit spread adjustment, reduces the minimum interest coverage ratio, and reduces commitment fee pricing spread. In addition, the Seventh Amendment expands certain covenants and increases and resets certain incurrence baskets. 'We are incredibly pleased with the execution of this transaction, which reflects the stability of our business and the strength of our banking relationships. The improved repricing, greater flexibility, and maturity extension enhance our balance sheet and provides us with financial flexibility to continue to execute our growth strategy,' said Erik Hoag, Chief Financial Officer of Travel + Leisure Co. About Travel + Leisure Co. Travel + Leisure Co. (NYSE: TNL), is a leading leisure travel company, providing more than six million vacations to travelers around the world every year. The company operates a portfolio of vacation ownership, travel club, and lifestyle travel brands designed to meet the needs of the modern leisure traveler, whether they're traversing the globe or staying a little closer to home. With hospitality and responsible tourism at its heart, the company's nearly 19,000 dedicated associates around the globe help the company achieve its mission to put the world on vacation. Learn more at Forward-Looking Statements This press release includes 'forward-looking statements' as that term is defined by the Securities and Exchange Commission ('SEC'). Forward-looking statements are any statements other than statements of historical fact, including statements regarding our expectations about future interest savings. Forward-looking statements are subject to risks and uncertainties that could cause actual results of Travel + Leisure Co. and its subsidiaries ('Travel + Leisure Co.' or 'we') to differ materially from those discussed in, or implied by, the forward-looking statements. Factors that might cause such a difference include, but are not limited to, risks associated with our ability to comply with financial and restrictive covenants under our indebtedness; our ability to access capital markets on reasonable terms, at a reasonable cost or at all; adverse economic conditions including inflation and higher interest rates; and those other factors disclosed as risks under 'Risk Factors' in documents we have filed with the SEC, including in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 19, 2025. We caution readers that any such statements are based on currently available operational, financial, and competitive information, and they should not place undue reliance on these forward-looking statements, which reflect management's opinion only as of the date on which they were made. Except as required by law, we undertake no obligation to review or update these forward-looking statements to reflect events or circumstances as they occur.
Business Wire
30-05-2025
- Business
- Business Wire
Travel + Leisure Co. to Present at the Morgan Stanley 3rd Annual Travel & Leisure Conference
ORLANDO, Fla.--(BUSINESS WIRE)-- Travel + Leisure Co. (NYSE:TNL) announced today that Michael D. Brown, President and CEO, and Erik Hoag, CFO, will participate in a fireside chat session at the Morgan Stanley 3rd Annual Travel & Leisure Conference on Tuesday, June 3, 2025 at 8:00 a.m. EDT. A live audio webcast will be available in the investor relations section of the company's website at A replay will be available approximately 24 hours after the ending of this event. About Travel + Leisure Co. Travel + Leisure Co. (NYSE:TNL) is a leading leisure travel company, providing more than six million vacations to travelers around the world every year. The company operates a portfolio of vacation ownership, travel club, and lifestyle travel brands designed to meet the needs of the modern leisure traveler, whether they're traversing the globe or staying a little closer to home. With hospitality and responsible tourism at its heart, the company's nearly 19,000 dedicated associates around the globe help the company achieve its mission to put the world on vacation. Learn more at
