Travelport has announced that it has completed its previously announced financing transaction with a group of its existing equity holders and lenders who have invested $570 million in new equity into the Company.
The new financing significantly deleverages Travelport’s balance sheet, giving the Company a more robust long-term capital structure. It positions Travelport to continue investing in its technology platforms and further innovating new, exceptional ways for the travel industry to serve customers.
“The completion of the company’s previously announced financing transaction represents the strong belief our investors have in our competitive position and potential for long-term growth,” said Greg Webb, Chief Executive Officer of Travelport. “Our new financing allows us to continue to innovate, enhance and deliver the best-in-class technology our partners have come to expect from us. This investment will further fuel our momentum, setting up the company for increased speed, agility and innovation in 2024.”
The completion of the transaction concludes a productive year for the organisation. The Company has undertaken several successful strategic investments and initiatives to enhance the technology, products and services it provides to customers. Moving forward, the company will continue to invest in its customer offerings including accelerating new developments in Travelport+, support for a wide range of carrier NDC offerings, and the Content Curation Layer, the Company’s groundbreaking, machine learning-powered search engine that normalizes and personalizes all sources of travel content.
The company`s owners are now composed of its existing equity and credit investors, including Elliott Investment Management, Davidson Kempner Capital Management, Canyon Partners, Siris Capital and other leading institutional investors.
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