Travelport recommitments for repricing due Jan. 25

By Sara Rosenberg

New York, Jan. 18 - Travelport Inc. has asked lenders to recommit to its proposed term loan B and synthetic letter-of-credit facility repricing by 5 p.m. ET on Jan. 25, according to a market source.

UBS is the lead bank on the repricing.

The repricing was recently informally launched to investors, the source said, adding that previous reports by Prospect News of a conference call having been held this past Wednesday were incorrect.

"In light of the recent amendment conference call held on Dec. 20, Blackstone, Travelport Management and UBS feel another conference call is not necessary," the source explained.

Under the repricing proposal, the company is looking to reduce the spread on its $1.41 billion term loan B and $125 million synthetic letter-of-credit facility to Libor plus 250 basis points from Libor plus 300 bps.

Travelport is a Parsippany, N.J.-based travel distribution services company.

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