On July 1, 2024, Tripadvisor, Inc. allocated and priced a new term loan B credit facility in an aggregate principal amount of $500 million. The Term Loan B Facility will bear interest at SOFR plus 2.75%. The new Term Loan B Facility and an amendment to the Company?s existing revolving loan facility are expected to close on July 8, 2024, subject to customary closing conditions.
On July 1, 2024, the Company called all $500.0 million aggregate principal amount of its outstanding 7.000% Senior Notes due 2025 (the Notes) for redemption on July 15, 2024 (the Redemption Date). The redemption is conditioned on the successful completion of one or more debt financing transactions of the Company that generates at least $450 million in gross proceeds. The Company expects the closing and funding of the Term Loan B Facility will satisfy that condition.
The aggregate redemption price for the Notes will be $500.0 million plus accrued and unpaid interest to, but not including the Redemption Date (subject to the right of holders of record of the Notes on July 1, 2024 to receive such interest).
