Travelport seeks term loan B repricing at Libor plus 400 bps

By Sara Rosenberg

New York, June 14 – Travelport Finance (Luxembourg) SARL is talking its $2,339,000,000 term loan B (B2/B+) due September 2021 at Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99.75, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc. and UBS Investment Bank are the joint lead arrangers and joint bookrunners on the deal that launched with a call on Monday.

Proceeds will be used to reprice an existing term loan B.

Current pricing on the term loan B is Libor plus 475 bps with a 1% Libor floor, the company disclosed in recent filings with the Securities and Exchange Commission.

Commitments for existing lenders are due on Wednesday and for new money lenders at noon ET on Friday.

Cashless roll is available, the source added.

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

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