NEEDHAM,
Mass., July 8, 2024 /PRNewswire/ -- Tripadvisor,
Inc. (NASDAQ: TRIP) announced today that it has successfully closed
on a term loan B facility in conjunction with a First Amendment to
its Credit Agreement, dated as of June 26,
2015, as amended and restated as of June 29, 2023 (such amended and restated credit
agreement, the "Restated Credit Agreement," and as amended by the
First Amendment, the "Amended Credit Agreement"). The First
Amendment provides for 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"). The Term Loan B Facility was offered at 99.75% of
par and is required to be paid down at 1.00% of the aggregate
principal amount per year. The proceeds from the Term Loan B
Facility will be used to redeem all of the $500 million aggregate principal amount of the
Company's outstanding 7.000% Senior Notes due in 2025.
Safe Harbor Statement
Statements in this press
release regarding management's future expectations, beliefs,
intentions, goals, strategies, plans or prospects, including,
without limitation, statements relating to Tripadvisor's
potential offering, may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 and other federal securities laws. Forward-looking
statements can be identified by terminology such as "anticipate,"
"believe," "could," "could increase the likelihood," "estimate,"
"expect," "intend," "is planned," "may," "should," "will," "will
enable," "would be expected," "look forward," "may provide,"
"would" or similar terms, variations of such terms or the negative
of those terms. Investors are cautioned that statements in
this press release, which are not strictly historical statements,
including, without limitation, statements by our executive officers
with respect to growth objectives, including the ability of our
segment strategies to be successful, strategic investments,
expectations regarding potential tax adjustments and benefits, and
statements regarding management's plans, objectives and strategies,
constitute forward-looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors including, but not limited to, those risks, uncertainties
and factors detailed in Tripadvisor's filings with the
SEC. As a result of such risks, uncertainties and factors,
Tripadvisor's actual results may differ materially from any
future results, performance or achievements discussed in or implied
by the forward-looking statements contained herein.
Tripadvisor is providing the information in this press
release as of this date and assumes no obligations to update the
information included in this press release or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
About Tripadvisor, Inc.
The Tripadvisor Group operates
as a family of brands that connects people to experiences worth
sharing, and aims to be the world's most trusted source for travel
and experiences. We leverage our brands, technology, and
capabilities to connect our global audience with partners through
rich content, travel guidance, and two-sided marketplaces for
experiences, accommodations, restaurants, and other travel
categories. The subsidiaries of Tripadvisor, Inc. (Nasdaq:
TRIP), own and operate a portfolio of travel media brands and
businesses, including Tripadvisor, Viator, and TheFork.
TRIP-G
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SOURCE Tripadvisor