BELLEVUE, Wash., Sept. 11, 2019 /PRNewswire/ -- Today, Expedia
Group, Inc. ("Expedia Group") announced that it has agreed to sell
$1.25 billion aggregate principal
amount of unsecured 3.25% senior notes due 2030 (the "Notes") in a
private offering. The Notes will be issued at a price of 99.225% of
the aggregate principal amount. The Notes will be guaranteed by
certain subsidiaries of Expedia Group. Expedia Group 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 Group's
indebtedness 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 Group's subsidiaries. The
private offering of the Notes is expected to close on September 19, 2019. 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 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
of 1933 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 of 1933 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 Group
Expedia Group (NASDAQ: EXPE) is the world's travel platform. We
help knock down the barriers to travel, making it easier, more
enjoyable, more attainable and more accessible. We are here to
bring the world within reach for customers and partners around the
globe. We leverage our platform and technology capabilities across
an extensive portfolio of businesses and brands to orchestrate the
movement of people and the delivery of travel experiences on both a
local and global basis. Our family of travel brands includes: Brand
Expedia®, Hotels.com®, Expedia® Partner Solutions, Vrbo®, Egencia®,
trivago®, HomeAway®, Orbitz®, Travelocity®, Hotwire®, Wotif®,
ebookers®, CheapTickets®, Expedia Group™ Media Solutions, Expedia
Local Expert®, CarRentals.com™, Expedia® CruiseShipCenters®,
Classic Vacations®, Traveldoo®, VacationRentals.com and
SilverRail™.
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, 2018,
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; risks related to
payments and fraud; risks related to our acquisitions, investments
or significant commercial arrangements; risks relating to our
international operations; our reliance on various business partners
and third-parties for many systems and services; 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; regulatory risks related to our
alternative accommodations business; 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; enactment of legislation implementing changes in
taxation of international business activities, adoption of other
corporate tax reform policies or changes in tax legislation or
policies; unfavorable outcomes in legal proceedings to which we are
a party; risks relating to the copying or use of our intellectual
property and proprietary information by others, including potential
competitors; 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; system interruption, security
breaches and lack of redundancy in our information systems; 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;
compliance with privacy regulations; fluctuations in foreign
exchange rates; volatility in our stock price; liquidity
constraints or our inability to access the capital markets when
necessary or desirable; risks related to our significant
indebtedness; various counterparty risks; changes in control of the
Company; actual or potential management and director conflicts of
interest; 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, 2018, 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. © 2019 Expedia, Inc. All rights reserved.
CST: 2029030-50
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SOURCE Expedia Group