TripAdvisor talks $500 million five-year senior notes at 7½% area; pricing Tuesday

By Abigail W. Adams

Portland, Me., July 7 – TripAdvisor Inc. plans to price $500 million of five-year senior notes in a Tuesday drive-by with initial price talk for a yield in the 7½% area, according to a market source.

The notes are non-callable for two years.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S offering.

There will be an investor call at 11 a.m. ET on Tuesday with pricing expected thereafter.

Proceeds will be used for general corporate purposes.

TripAdvisor is a Needham, Mass.-based online travel platform.

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