Travelport plans new debt financing for buyout by Siris and Evergreen

By Sara Rosenberg

New York, Dec. 10 – Travelport Worldwide Ltd. has received a commitment for debt financing to help fund its acquisition by Siris Capital Group LLC and Evergreen Coast Capital Corp., according to an 8-K filed with the Securities and Exchange Commission on Monday.

Bank of America Merrill Lynch, Deutsche Bank, Macquarie Capital, Credit Suisse and Barclays provided the debt commitment.

Under the agreement, Travelport is being bought for $15.75 per share in cash. The transaction is valued at about $4.4 billion.

Closing is expected in the second quarter of 2019, subject to customary conditions, including approval by Travelport shareholders and receipt of required regulatory approvals. The transaction is not subject to any financing condition.

There is a “go shop” period through Jan. 23.

Travelport is a Langley, U.K.-based travel technology company.

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