Sierra Timeshare to get stable rating on $275M securitization
The collateral backing the notes are fixed-rate timeshare loans originated by Wyndham Vacation Resorts and Wyndham Resort Development Corp.
By
Amilda Dymi
The collateral backing the notes are fixed-rate timeshare loans originated by Wyndham Vacation Resorts and Wyndham Resort Development Corp.
The collateral pool consists of new and used vehicles manufactured by Hyundai Motor and Kia Corp., 9% of which are electric and hybrid vehicles.
The transaction will be backed by commercial leases and loans primarily supported by Dell Technologies and Dell EMC branded equipment.
The securitization has a reserve account of 1% of the initial series note balance funded fully at closing.