Expedia Group, Inc. Announces Proposed Private Offering of Senior Notes
July 07 2020 - 09:41AM
Business Wire
Expedia Group, Inc. (“Expedia Group” or the “Company”) today
announced that it is commencing a private offering of senior
unsecured notes (the “Notes”), subject to market and other
conditions. Expedia Group currently expects to use the net proceeds
to redeem outstanding shares of its 9.5% Series A Preferred Stock
after May 5, 2021, when the redemption premium is scheduled to
decrease. Depending on business, liquidity and other trends or
conditions, however, the Company may elect to use all or part of
the proceeds for other general corporate purposes, which may
include repaying, prepaying, redeeming or repurchasing other
indebtedness in lieu of or pending such redemption.
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 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.
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 current expectations
and projections about future events, are based on currently
available information and 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: risks
related to the ongoing global coronavirus (COVID-19) pandemic and
the significant adverse global impact that it has had on the travel
industry and our business; an increasingly competitive global
environment, 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, 2019, our quarterly report on Form 10-Q for the
three months ended March 31, 2020 and Exhibit 99.2 to our Current
Report on Form 8-K filed with the SEC on April 23, 2020 (File No.:
20809410). 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 document, 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.
About Expedia Group
Expedia Group (NASDAQ: EXPE) helps 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®, Orbitz®,
Travelocity®, Hotwire®, Wotif®, ebookers®, CheapTickets®, Expedia
Group™ Media Solutions, Expedia Local Expert®, CarRentals.com™,
Expedia® CruiseShipCenters®, Classic Vacations®, Traveldoo®,
VacationRentals.com and SilverRail™.
© 2020 Expedia, Inc. All rights reserved. Trademarks and logos
are the property of their respective owners. CST: 2029030-50
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Dave McNamee dmcnamee@expediagroup.com
Expedia (NASDAQ:EXPE)
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