Travel + Leisure Co. - TNL STOCK NEWS

Travel + Leisure Co. (NYSE:TNL) has priced a private offering of $650 million in senior secured notes due 2029. The offering, expected to close on November 18, 2021, aims to use proceeds to redeem existing 4.25% secured notes maturing in March 2022 and cover related expenses. The new notes will carry a 4.50% interest rate, payable semi-annually, and will mature on December 1, 2029. This offering is targeting qualified institutional buyers and is subject to standard market conditions.

Travel + Leisure Co. (NYSE:TNL) has appointed Lucinda Martinez to its Board of Directors effective November 11, 2021. Martinez, an expert in global marketing from HBO and Netflix, will provide insights into subscriber business development and diverse marketing strategies. Her experience is expected to guide the company's expansion into new travel subscription services and enhance its presence in the leisure travel market. The chairman emphasized the importance of her expertise during this growth phase.

Travel + Leisure Co. (NYSE:TNL) announced a private offering of $650 million in senior secured notes due 2029. The proceeds will be utilized to redeem existing 4.25% secured notes due March 2022 and cover related fees. The offering is available only to qualified institutional buyers and adheres to the Securities Act's regulations. Forward-looking statements are included, highlighting potential risks such as economic conditions and the COVID-19 pandemic. The company emphasizes its role in the leisure travel industry, providing services through multiple brands.

Travel + Leisure Co. (NYSE:TNL) has announced an increase in its quarterly cash dividend from $0.30 to $0.35 per share, payable on December 30, 2021, to shareholders on record as of December 15, 2021. This annualized dividend rises to $1.40 per share, marking a nearly 17% increase from the previous annualized rate of $1.20. CFO Mike Hug highlighted this increase as evidence of the company’s confidence in its business resilience and commitment to returning value to shareholders through free cash flow deployment.

Travel + Leisure Co. (NYSE:TNL) reported strong third quarter 2021 results, achieving a net income of $101 million, or $1.15 per diluted share, on revenues of $839 million. The company's adjusted EBITDA was $228 million, with adjusted diluted EPS of $1.19. Cash flow metrics were robust, with $435 million from operations and adjusted free cash flow of $128 million for the first nine months. The company raised its full-year adjusted EBITDA guidance to $740-$750 million and diluted EPS guidance to $3.35-$3.43. A fourth-quarter dividend of $0.35 per share is recommended, following a $1 billion credit facility renewal and a $350 million securitization.

Travel + Leisure Co. (NYSE:TNL) has successfully completed a term securitization transaction, issuing $350 million of asset-backed notes. The issuance includes approximately $126 million in Class A Notes with a coupon of 1.35%, among others, with an overall weighted average coupon of 1.82%. The strong demand led to a tightening of spread levels across the capital structure, indicating robust investor confidence. This transaction was executed under Rule 144A and Regulation S, ensuring compliance with securities laws.

Travel + Leisure Co. (TNL) has released its 2020-2021 Social Responsibility Report, highlighting its commitment to social responsibility through various initiatives. The company achieved water withdrawal goals six years early and has set a new target to reduce water usage by 35% by 2025. It established the Travel + Leisure Charitable Foundation and aims to enhance diversity in leadership roles. Additionally, TNL has developed safety plans for returning to work amid COVID-19. This report marks the first under the new company name following its acquisition of Travel + Leisure.

Travel + Leisure Co. (NYSE:TNL) will release its third quarter 2021 financial results on October 27, 2021, before market open. A conference call hosted by CEO Michael D. Brown and CFO Mike Hug will follow at 8:30 a.m. ET to discuss financial performance and business outlook.

Interested participants can join via a webcast on the company’s investor website, with an archive available for 90 days post-call. A telephone replay will be accessible for four days after the call.

Travel + Leisure Co. (NYSE:TNL) presented its four-year growth plan at an investor meeting in New York, aiming to expand its timeshare and vacation exchange businesses. CEO Michael D. Brown highlighted a strategy to tap into a larger market segment leveraging the Travel + Leisure brand. The company forecasts adjusted diluted EPS between $6.10 and $7.30 by 2025, a CAGR of 17-22%. Adjusted EBITDA is expected to grow 11-14%, with cumulative cash available for shareholder value reaching $2.9 to $3.3 billion. The company reaffirms its 2021 outlook for adjusted EBITDA between $725-$735 million.