TRIPADVISOR, INC. (NASDAQ:TRIP) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
| Entry Into a Material Definitive Agreement |
On May12, 2017, TripAdvisor, Inc., a Delaware corporation (the
Company), TripAdvisor Holdings, LLC, a Massachusetts limited
liability company (Holdings), and TripAdvisor LLC, a Delaware
limited liability company (TripAdvisor) entered into the First
Amendment (the First Amendment), among the Company, Holdings,
TripAdvisor, the other Subsidiary Loan Parties party thereto, the
Lenders party thereto, JPMorgan Chase Bank, N.A., as
administrative agent (the Administrative Agent), and J.P. Morgan
Europe Limited, as London agent (the London Agent), which
modifies the Credit Agreement, dated as of June26, 2015 (as
amended by the First Amendment, the Amended Credit Agreement),
among the Company, Holdings, TripAdvisor, the other Subsidiary
Loan Parties from time to time party thereto, the Lenders from
time to time party thereto, the Administrative Agent and the
London Agent.
The First Amendment, among other things:
|
increases the aggregate amount of revolving loan commitments available under the Amended Credit Agreement from $1.0billion to $1.2billion; |
|
allows for the deduction of certain foreign cash in the calculation of Consolidated Net Funded Debt (as defined in the Amended Credit Agreement); |
|
extends the maturity date of the Amended Credit Agreement to May12, 2022; and |
|
revises the pricing grid to decrease the Commitment Fee Rate (as defined in the Amended Credit Agreement) at certain leverage ratio levels. |
The foregoing description of the First Amendment is qualified in
its entirety by reference to the full text of the First Amendment
which is filed as Exhibit 10.1 to this Current Report on Form 8-K
and is incorporated herein by reference.
| Item2.03. |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
See the discussion set forth in Item1.01, Entry into a Material
Definitive Agreement, of this Current Report on Form 8-K, which discussion is
incorporated herein by this reference.
| Item9.01. | Financial Statements and Exhibits |
(d)
Exhibits
| 10.1 |
First Amendment, dated as of May12, 2017, by and among TripAdvisor, Inc., TripAdvisor Holdings, LLC, TripAdvisor LLC, the other Subsidiary Loan Parties party thereto, the Lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and J.P. Morgan Europe Limited, as London agent. |
About TRIPADVISOR, INC. (NASDAQ:TRIP)
TripAdvisor, Inc. is an online travel company, which owns and operates a portfolio of online travel brands. TripAdvisor, the Company’s flagship brand, is a travel Website. The Company operates in two segments. The Hotel segment’s services include making hotel room nights available for price comparison and booking, including instant booking feature, as well as subscription-based hotel products, such as Business Listings, and transaction-based hotel products, such as Jetsetter and Tingo. Its Other segment consists of three segments, which include Attractions, Restaurants and Vacation Rentals. The Company, through viator.com (Viator), provides information and services for researching and booking destination activities around the world. Its Restaurants business consists of its Websites that provide online and mobile reservation services. The Company offers individual property owners and property managers to list their properties available for rental and connect with travelers. TRIPADVISOR, INC. (NASDAQ:TRIP) Recent Trading Information
TRIPADVISOR, INC. (NASDAQ:TRIP) closed its last trading session up +0.42 at 46.67 with 2,019,234 shares trading hands.