Travelport launches repricing of term loan B at Libor plus 325 bps

By Sara Rosenberg

New York, Jan. 9 – Travelport Finance (Luxembourg) Sarl was scheduled to hold a lender call at noon ET on Monday to launch a repricing of its $2,278,000,000 term loan B (B2/B+) due September 2021 that is talked at Libor plus 325 basis points with a 1% Libor floor and a par issue price, according to a market source.

The repriced term loan has 101 soft call protection for six months and a 6 times consolidated first-lien net leverage covenant, the source said.

Deutsche Bank Securities Inc. is the arranger on the deal.

The repricing will take the term loan down from Libor plus 400 bps with a 1% Libor floor.

Cashless roll commitments are due at the end of the day on Wednesday and new money commitments are due at noon ET on Friday, the source added.

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

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