Travelport Worldwide Limited (NYSE:TVPT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry into a Material Definitive Agreement. |
On January 19, 2017, we entered into an amendment (the Amendment)
among Travelport Finance (Luxembourg) S.a.r.l., Travelport
Limited, the Term C Lenders (as defined in the Amendment) and
Deutsche Bank AG New York Branch to our credit agreement, dated
as of September 2, 2014 (as amended by the Incremental Amendment
to the Credit Agreement, dated as of January 16, 2015, and
Amendment No. 2 to the Credit Agreement, dated as of June 23,
2016, the Credit Agreement). The Amendment, among other things,
(i) amends the applicable rates to 2.25% per annum, in the case
of base rate loans, and 3.25% per annum, in the case of LIBOR
loans and (ii) resets the 1% premium on the repricing of the term
loans under the Credit Agreement for a period of six months. The
interest rate per annum applicable to the term loans remains
based on a fluctuating rate of interest, at our election, equal
to in the case of LIBOR loans, (i) LIBOR, plus the
applicable rate or, in the case of base rate loans, (ii) the sum
of the applicable rate and the greatest of (A) the federal funds
effective rate plus 0.5%, (B) the rate as publicly announced from
time to time by Deutsche Bank as its prime rate and (C) one-month
LIBOR plus 1.00%. In addition, the term loans remain subject to a
floor of 2.00% per annum, in case of base rate loans, and 1.00%
per annum, in the case of LIBOR loans.
Certain of the agents and lenders party to the Amendment, and
their respective affiliates, have performed, and may in the
future perform, various commercial banking, investment banking
and other financial advisory services for us and our subsidiaries
for which they have received, and will receive, customary fees
and expenses.
The foregoing description of the Amendment does not purport to be
complete and is qualified in its entirety by reference to the
text of such document, which is filed as Exhibit 10.1 hereto and
is incorporated by reference herein.
| Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information described above under Item 1.01. Entry into a
Material Definitive Agreement is incorporated herein by
reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
The following exhibits are filed as part of this report:
| Exhibit No. | Description | |
| 10.1 |
Amendment No. 3 to Credit Agreement, dated as of January 19, 2017 among Travelport Finance (Luxembourg) S.a.r.l., as borrower, Travelport Limited, the Term C Lenders and Deutsche Bank AG New York Branch. |
About Travelport Worldwide Limited (NYSE:TVPT)
Travelport Worldwide Limited provides a travel commerce platform, which offers distribution, technology, payment and other solutions for travel and tourism industry. The Company connects travel providers, such as airlines and hotel chains with online and offline travel agencies and other travel buyers in its business-to-business (B2B) travel commerce platform. It provides air distribution services to approximately 400 airlines around the globe, including approximately 120 low cost carriers (LCCs). It distributes ancillaries for approximately 100 airlines. The Company’s travel commerce platform, Air, provides real-time search, pricing, booking, change, payment and itinerary creation for travelers using the services of online and offline travel agencies for both leisure and business travel. Its Beyond Air portfolio includes distribution and merchandising solutions for hotel, car rental, rail, cruise-line and tour operators, payment solutions, advertising and other platform services. Travelport Worldwide Limited (NYSE:TVPT) Recent Trading Information
Travelport Worldwide Limited (NYSE:TVPT) closed its last trading session down -0.01 at 14.14 with 604,971 shares trading hands.