Expedia expected to launch $800 million 10-year notes Aug. 14 week - likely to be split-rated

By Paul A. Harris

St. Louis, Aug. 10 - Expedia, Inc., the Bellevue, Wash.-based online travel services company, announced in a Thursday news release that it plans to make an $800 million offering of senior unsecured notes with a maturity of up to 10 years.

A market source said that JP Morgan will run the books for the sale of notes, which are expected to be split-rated.

This source also said that some high-yield accounts will likely take an interest in the deal.

Proceeds will be used for general corporate purposes, which may include the repurchase of common stock, repayment of debt, acquisitions, investments, additions to working capital, capital expenditures and advances to or investments in its subsidiaries.

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