Tripadvisor, Inc. (NASDAQ: TRIP) announced the successful closure of a $500 million term loan B facility. This financial arrangement was made in conjunction with a First Amendment to its Credit Agreement, originally dated June 26, 2015, and amended and restated as of June 29, 2023 (the “Restated Credit Agreement”). The First Amendment includes a new $500 million term loan B credit facility, maturing in 2031, with an interest rate based on SOFR plus 2.75% (the “Term Loan B Facility”).
Key Details of the Term Loan B Facility
The Term Loan B Facility was issued at 99.75% of par value and includes an annual repayment requirement of 1.00% of the aggregate principal amount. The proceeds from this facility will be utilized to redeem the entire $500 million principal amount of Tripadvisor’s outstanding 7.000% Senior Notes due in 2025.
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Forward-Looking Statements and Cautions
This press release contains forward-looking statements that are subject to risks and uncertainties. These statements can be identified by terms such as “anticipate,” “believe,” “expect,” and similar expressions. Such statements involve known and unknown risks detailed in Tripadvisor’s SEC filings. Actual results may differ materially from those expressed or implied by these statements. Tripadvisor does not undertake any obligation to update forward-looking statements, except as required by law.
About Tripadvisor, Inc.
Tripadvisor, Inc. operates a family of travel media brands, including Tripadvisor, Viator, and TheFork. The company aims to be the world’s most trusted source for travel and experiences, connecting a global audience with partners through rich content and travel guidance. For more information, visit the official Tripadvisor website.
Source: Tripadvisor, Inc.
Source: Tripadvisor Completes Term Loan B Facility and Senior Notes Redemption
