BELLEVUE, Wash., Sept. 18, 2017 /PRNewswire/ -- Today,
Expedia, Inc. ("Expedia") announced that it has agreed to sell
$1 billion aggregate principal amount
of 3.800% senior unsecured notes due 2028 (the "Notes") in a
private offering. The Notes will be issued at a price of 99.747% of
the aggregate principal amount. The Notes will be guaranteed by
certain subsidiaries of Expedia. Expedia expects to use the net
proceeds from the offering for general corporate purposes, which
may include, but are not limited to, (i) repayment, prepayment,
redemption or repurchase of Expedia's indebtedness (including, but
not limited to, Expedia's 7.456% senior notes due 2018) and (ii)
working capital, capital expenditures and acquisitions. General
corporate purposes may also include, without limitation, dividends,
stock repurchases, investments and advances to or other investments
in Expedia's subsidiaries. The private offering of the Notes is
expected to close on September 21,
2017. The closing is subject to customary closing
conditions, and there can be no assurance that the issuance and
sale of the Notes will be consummated.
The Notes will be offered and sold only to qualified
institutional buyers in the United
States pursuant to Rule 144A and outside the United States pursuant to Regulation S
under the Securities Act of 1933, as amended (the "Securities
Act"). The Notes have not been registered under the Securities Act
or any state securities laws and may not be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state laws.
This press release does not constitute an offer to sell or a
solicitation of an offer to purchase the Notes or any other
securities and does not constitute an offer, solicitation or sale
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful.
About Expedia, Inc.
Expedia, Inc. (NASDAQ: EXPE) is
the world's largest online travel company, with an extensive brand
portfolio that includes leading online travel brands, such as:
- Expedia.com®, a leading full-service online travel brand with
localized sites in 33
countries
- Hotels.com®, a leading global lodging expert operating 89
localized websites in 41 languages with its award winning
Hotels.com® Rewards loyalty program
- Expedia® Affiliate Network (EAN), a global B2B brand that
powers the hotel business of hundreds of leading airlines, travel
agencies, loyalty and corporate travel companies plus several top
consumer brands through its API and template
solutions
- trivago®, a leading online hotel search platform with sites in
55 countries
worldwide
- HomeAway®, a global online marketplace for the vacation rental
industry, which also includes the VRBO®, VacationRentals.com® and
BedandBreakfast.com® brands, among
others
- Egencia®, a leading corporate travel management
company
- Orbitz® and CheapTickets®, leading U.S. travel websites, as
well as ebookers®, a full-service travel brand with websites in
seven European countries
- Travelocity®, a leading online travel brand in the U.S. and
Canada delivering customer service
when and where our customers need it with the Customer First
Guarantee
- Hotwire®, inspiring spontaneous travel through Hot Rate®
deals
- Wotif Group, a leading portfolio of travel brands including
Wotif.com®, Wotif.co.nz, lastminute.com.au®, lastminute.co.nz and
travel.com.au®
- Expedia® Media Solutions, the advertising sales division of
Expedia, Inc. that builds creative media partnerships and enables
brand advertisers to target a highly-qualified audience of travel
consumers
- CarRentals.com™, a premier online car rental booking company
with localized sites in 13
countries
- Classic Vacations®, a top luxury travel
specialist
- Expedia Local Expert®, a provider of online and in-market
concierge services, activities, experiences and ground
transportation in over a thousand destinations worldwide
- Expedia® CruiseShipCenters®, a provider of exceptional value
and expert advice for travelers booking cruises and vacations
through its network of over 235 retail travel agency franchises
across North
America
- SilverRail Technologies, Inc., a global rail retail and
distribution platform connecting rail carriers and suppliers to
both online and offline travel distributors
Forward-Looking Statements. This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These
forward-looking statements reflect the views of our management
regarding current expectations and projections about future events
and are based on currently available information. Actual results
could differ materially from those contained in these
forward-looking statements for a variety of reasons, including, but
not limited to, those discussed in our Annual Report on Form 10-K
for the year ended December 31, 2016,
Part I, ITEM 1A, "Risk Factors", as well as those discussed
elsewhere in this press release. Other unknown or unpredictable
factors also could have a material adverse effect on our business,
financial condition and results of operations. Accordingly, readers
should not place undue reliance on these forward-looking
statements. The use of words such as "anticipates,"
"estimates," "expects," "intends," "plans" and "believes," among
others, generally identify forward-looking statements; however,
these words are not the exclusive means of identifying such
statements. In addition, any statements that refer to
expectations, projections or other characterizations of future
events or circumstances are forward-looking statements. These
forward-looking statements are inherently subject to uncertainties,
risks and changes in circumstances that are difficult to
predict.
Actual results and the timing and outcome of events may differ
materially from those expressed or implied in the forward-looking
statements for a variety of reasons, including, among others: an
increasingly competitive global environment; risks related to our
dynamic industry; changes in search engine algorithms and dynamics
or other traffic-generating arrangements; our business' dependence
on our relationships with travel suppliers and travel distribution
partners; declines or disruptions in the travel industry; our
reliance on the value of our brands and the increasing costs of
maintaining and enhancing our brand awareness; our reliance on
information technology to operate our business and maintain our
competitiveness and risks related to our potential failure to
invest in and adapt to technological developments or industry
trends; risks related to our acquisitions, investments or
significant commercial arrangements; risks related to the
transition of our HomeAway business to primarily transaction-based
business; risks relating to our international operations; our
potential failure to comply with current laws, rules and
regulations, or potential changes to such laws, rules and
regulations, and other legal uncertainties; application of existing
tax laws, rules or regulations; system interruption, security
breaches and lack of redundancy in our information systems;
amendment to existing tax laws, rules or regulations or enactment
of new unfavorable tax laws, rules or regulations; unfavorable
outcomes in legal proceedings to which we are a party; risks
related to payments and fraud; fluctuations in foreign exchange
rates; volatility in our stock price; liquidity constraints or our
inability to access the capital markets when necessary or
desirable; our failure to comply with governmental regulation and
other legal obligations related to our processing, storage and use
of personal information, payment card information and other
consumer data; our reliance on the performance of highly-skilled
personnel and our potential failure to retain or motivate key
personnel or hire, retain and motivate qualified personnel; changes
in control of the Company; actual or potential management and
director conflicts of interest; risks related to activities of our
business partners and third party service providers; various
counterparty risks; risks related to our significant indebtedness;
our potential failure to protect our intellectual property and
proprietary information from copying or use by others, including
potential competitors; as well as other risks detailed in our
public filings with the SEC, including our annual report on Form
10-K for the year ended December 31,
2016, subsequent quarterly reports on Form 10-Q or current
reports on Form 8-K.
Other unknown or unpredictable factors also could have a
material adverse effect on our business, financial condition and
results of operations. In addition, in light of these risks and
uncertainties, the matters referred to in the forward-looking
statements contained in this press release may not in fact occur.
Accordingly, you should not place undue reliance on those
statements. We are not under any obligation, and do not intend, to
publicly or otherwise update, review or revise any forward-looking
statement or other statement in this press release, whether as a
result of new information, future events or otherwise, even if
experience or future events make it clear that any expected results
express or implied by these forward-looking statements will not be
realized. Please carefully review and consider the various
disclosures made in this press release and in our reports filed
with the SEC that attempt to advise interested parties of the risks
and factors that may affect our business, prospects and results of
operation.
Trademarks and logos are the property of their respective
owners. © 2017 Expedia, Inc. All rights reserved.
CST: 2029030-50
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SOURCE Expedia, Inc.