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This excerpt taken from the WYN 10-Q filed May 7, 2009. LIQUIDITY
AND CAPITAL RESOURCES
Currently, our financing needs are supported by cash generated
from operations and borrowings under our revolving credit
facility. In addition, certain funding requirements of our
vacation ownership business are met through the issuance of
securitized and other debt to finance vacation ownership
contract receivables. We believe that access to our revolving
credit facility and our current liquidity vehicles, as well as
continued access to the securitization and debt markets
and/or other
financing vehicles, will provide us with sufficient liquidity to
meet our ongoing needs. If we are unable to access these
markets, it will negatively impact our liquidity position and
may require us to further adjust our business operations. See
Liquidity Risk for a discussion of the current and anticipated
impact on our securitizations program from the adverse
conditions present in the United States asset-backed securities
and commercial paper markets.
Our secured, revolving foreign credit facility expires in June
2009. We are in active dialogue with the participating banks and
potential new participants related to our secured, revolving
foreign credit facility in an attempt to renew this facility for
another
364-day term
prior to the current renewal date. In the event that we are not
able to renew all or part of the current agreement, all or a
portion of the outstanding borrowings would become immediately
due and payable. We anticipate that we would have adequate
liquidity to meet these maturities with available cash balances
and our revolving credit facility. Our 2008 bank conduit
facility expires in November 2009. Our goal is to renew this
facility for another
364-day term
prior to the current renewal date. In the event that we are not
able to renew all or part of the current agreement, the facility
would no longer operate as a revolving facility and would
amortize over approximately 13 months from the expiration.
This excerpt taken from the WYN 10-K filed Feb 27, 2009. Liquidity
and Capital Resources
Currently, our financing needs are supported by cash generated
from operations and borrowings under our revolving credit
facility. In addition, certain funding requirements of our
vacation ownership business are met through the issuance of
securitized and other debt to finance vacation ownership
contract receivables. We believe that access to our revolving
credit facility and our current liquidity vehicles, as well as
continued access to the debt markets
and/or other
financing vehicles, will be sufficient to meet our ongoing
needs. If we are unable to access these markets, it will
negatively impact our liquidity position and may require us to
further adjust our business operations. See Liquidity Risk for a
description of the impact on our securitizations from the
adverse conditions suffered by the United States asset-backed
securities and commercial paper markets.
Our secured, revolving foreign credit facility expires in June
2009. We are in active dialogue with the participating banks and
potential new participants related to our secured, revolving
foreign credit facility in an attempt to renew this facility for
another
364-day term
prior to the current renewal date. In the event that we are not
able to renew all or part of the current agreement, all or a
portion of the outstanding borrowings would become immediately
due and payable. We anticipate that we would have adequate
liquidity to meet these maturities with available cash balances
and our revolving credit facility. Our 2008 bank conduit
facility expires in November 2009. Our goal is to renew this
facility for another
364-day term
prior to the current renewal date. In the event that we are not
able to renew all or part of the current agreement, the facility
would no longer operate as a revolving facility and would
amortize over 13 months from the expiration date.
This excerpt taken from the WYN 10-Q filed Nov 10, 2008. LIQUIDITY
AND CAPITAL RESOURCES
Currently, our financing needs are supported by cash generated
from operations and borrowings under our revolving credit
facility. In addition, certain funding requirements of our
vacation ownership business are met through the issuance of
securitized and other debt to finance vacation ownership
contract receivables. We believe that access to our revolving
credit facility and our current liquidity vehicles, as well as
continued access to the securitization and debt markets
and/or other
financing vehicles, will provide us with sufficient liquidity to
meet our ongoing needs. If we are unable to access these
markets, it will negatively impact our liquidity position and
may require us to further adjust our business operations. See
Liquidity Risk for a discussion of the current and anticipated
impact on our securitizations program from the adverse
conditions present in the United States asset-backed securities
and commercial paper markets.
This excerpt taken from the WYN 10-Q filed Aug 8, 2008. LIQUIDITY
AND CAPITAL RESOURCES
Currently, our financing needs are supported by cash generated
from operations and borrowings under our revolving credit
facility. In addition, certain funding requirements of our
vacation ownership business are met through the issuance of
securitized and other debt to finance vacation ownership
contract receivables. We believe that access to our revolving
credit facility and our current liquidity vehicles will be
sufficient to meet our ongoing needs for the foreseeable future.
See Liquidity Risk for a description of the anticipated impact
on our securitizations from the adverse conditions suffered by
the United States asset-backed securities and commercial paper
markets.
Table of Contents
This excerpt taken from the WYN 10-Q filed May 8, 2008. LIQUIDITY
AND CAPITAL RESOURCES
Currently, our financing needs are supported by cash generated
from operations and borrowings under our revolving credit
facility. In addition, certain funding requirements of our
vacation ownership business are met through the issuance of
securitized and other debt to finance vacation ownership
contract receivables. We believe that access to our revolving
credit facility and our current liquidity vehicles will be
sufficient to meet our ongoing needs for the foreseeable future.
See Liquidity Risk for a description of the anticipated impact
on our securitizations from the adverse conditions suffered by
the United States asset-backed securities and commercial paper
markets.
Table of Contents
This excerpt taken from the WYN 10-K filed Feb 29, 2008. Liquidity
and Capital Resources
Currently, our financing needs are supported by cash generated
from operations and borrowings under our revolving credit
facility. In addition, certain funding requirements of our
vacation ownership business are met through the issuance of
securitized and other debt to finance vacation ownership
contract receivables. We believe that access to our revolving
credit facility and our current liquidity vehicles will be
sufficient to meet our ongoing
Table of Contents
needs for the foreseeable future. See Liquidity Risk for a
description of the anticipated impact on our securitizations
from the adverse conditions suffered by the United States
asset-backed securities and commercial paper markets.
This excerpt taken from the WYN 10-Q filed Nov 8, 2007. LIQUIDITY
AND CAPITAL RESOURCES
Currently, our financing needs are supported by cash generated
from operations and borrowings under our revolving credit
facility. In addition, certain funding requirements of our
vacation ownership business are met through the issuance of
securitized and other debt to finance vacation ownership
contract receivables. With the completion of the 2006 financings
related to our separation and the issuance of our
6.00% senior unsecured notes, our liquidity has been
further augmented through available capacity under our revolving
credit facility. We believe that access to this facility and our
current liquidity vehicles will be sufficient to meet our
ongoing needs for the foreseeable future.
This excerpt taken from the WYN 10-Q filed Aug 9, 2007. LIQUIDITY
AND CAPITAL RESOURCES
Currently, our financing needs are supported by cash generated
from operations and borrowings under our revolving credit
facility. In addition, certain funding requirements of our
vacation ownership business are met through the issuance of
securitized and other debt to finance vacation ownership
contract receivables. With the completion of the financings
related to our separation and the issuance of our
6.00% senior unsecured notes, our liquidity has been
further augmented through available capacity under our revolving
credit facility. We believe that access to this facility and our
current liquidity vehicles will be sufficient to meet our
ongoing needs for the foreseeable future.
This excerpt taken from the WYN 10-Q filed May 10, 2007. LIQUIDITY
AND CAPITAL RESOURCES
Currently, our financing needs are supported by cash generated
from operations and borrowings under our revolving credit
facility. In addition, certain funding requirements of our
vacation ownership business are met through the issuance of
securitized and other debt to finance vacation ownership
contract receivables. With the completion of the financings
related to our separation and the issuance of our
6.00% senior unsecured notes, our liquidity has been
further augmented through available capacity under our revolving
credit facility. We believe that access to this facility and our
current liquidity vehicles will be sufficient to meet our
ongoing needs for the foreseeable future.
This excerpt taken from the WYN 10-K filed Mar 7, 2007. Liquidity
And Capital Resources
Currently, our financing needs are supported by cash generated
from operations and borrowings under our revolving credit
facility. In addition, certain funding requirements of our
vacation ownership business are met through the issuance of
securitized and other debt to finance vacation ownership
contract receivables. With the completion of the new financings
related to our separation and the issuance of our
6.00% senior unsecured notes, our liquidity has been
further augmented through available capacity under our new
revolving credit facility. We
Table of Contents
believe that access to this facility and our current liquidity
vehicles will be sufficient to meet our ongoing needs for the
foreseeable future.
This excerpt taken from the WYN 10-Q filed Nov 14, 2006. LIQUIDITY
AND CAPITAL RESOURCES
Currently, our financing needs are supported by cash generated
from operations and our available borrowing facilities. In
addition, certain funding requirements of our vacation ownership
business are met through the issuance of securitized and other
secured debt to finance vacation ownership contract receivables
and the development of vacation ownership properties. In
connection with our separation from Cendant, on July 27,
2006, we drew down $1,360 million under our new borrowing
facilities and issued approximately $50 million in letters
of credit. Our liquidity has been further augmented
Table of Contents
through available capacity under these new facilities and we
believe that access to these facilities and our current and
long-term liquidity vehicles will be sufficient to meet our
ongoing needs.
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