Travelport Investors Commit $570 Million in New Equity Financing to Bolster Capital Structure and Accelerate Long-Term Growth and Innovation
LANGLEY, United Kingdom, Dec. 4, 2023 /PRNewswire/ -- Travelport Worldwide Limited ("Travelport" or the "Company"), a global technology company that powers travel bookings for hundreds of thousands of travel suppliers worldwide, today announced that a group of its existing equity holders and lenders have agreed to invest $570 million of new equity financing into the Company. The new financing will give Travelport a robust capital structure, enable further investment into Travelport's technology platforms and pave the way for other innovations to deliver new and exceptional ways for the travel industry to serve customers.
- The new financing will give Travelport a robust capital structure, enable further investment into Travelport's technology platforms and pave the way for other innovations to deliver new and exceptional ways for the travel industry to serve customers.
- The new investment in Travelport is being made pursuant to an agreement that will significantly deleverage and strengthen the Company's balance sheet (the "Transaction").
- Following completion of the Transaction, Travelport will have a new ownership structure composed of Travelport's existing equity and credit investors, including Elliott Investment Management, Davidson Kempner Capital Management, Canyon Partners, Siris Capital and other leading institutional investors.
- "This investment demonstrates our investors' support for Travelport and will advance our mission to reinvent a better future for the travel industry," said Greg Webb, Chief Executive Officer of Travelport.