Expedia Group, Inc. has announced it will sell USD 500 million aggregate principal amount of unsecured 3.600% senior notes due 2023 and USD 750 million aggregate principal amount of unsecured 4.625% senior notes due 2027 in a private offering, the company said.
The 2023 Notes will be issued at a price of 99.922% of the aggregate principal amount. The 2027 Notes will be issued at a price of 99.997% of the aggregate principal amount. The Notes will be guaranteed by certain subsidiaries of Expedia Group.
In light of attractive market conditions, the Company is opportunistically pursuing ways to optimize its capital structure and reduce its cost of capital. Expedia Group currently expects to use the net proceeds to redeem outstanding shares of its 9.5% Series A Preferred Stock after May 5, 2021, when the redemption premium is scheduled to decrease.
The Notes will be offered and sold only to qualified institutional buyers pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The Notes have not been registered under the Securi
Expedia Group (NASDAQ: EXPE) helps knock down the barriers to travel, making it easier, more enjoyable, more attainable and more accessible.