Travelport launches $2.27 billion first-lien term loan repricing

By Sara Rosenberg

New York, July 20 – Travelport held a lender call at 2 p.m. ET on Thursday to launch a repricing of its existing $2,266,000,000 first-lien term loan due September 2021 that is talked at Libor plus 275 basis points to 300 bps with a 0% Libor floor and a par issue price, according to a market source.

The repriced loan is talked with 101 soft call protection for six months, the source said.

Goldman Sachs Bank USA, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley Senior Funding Inc. and UBS Investment Bank are the lead banks on the deal.

Commitments are due at noon ET on July 27, the source added.

The repricing will take the term loan down from Libor plus 325 bps with a 1% Libor floor.

Travelport is an Atlanta-based provider of transaction processing services to the travel industry.

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