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8-K - FORM 8-K - Travelport LTD | y86091e8vk.htm |
Exhibit 99.1
TRAVELPORT ANNOUNCES $250 MILLION PRIVATE OFFERING
OF SENIOR NOTES DUE 2016
OF SENIOR NOTES DUE 2016
NEW YORK, NY, August 12, 2010 Travelport Limited (the Company), a leading provider of
critical transaction processing for the global travel industry, announced today that the Companys
indirect wholly-owned subsidiaries, Travelport LLC and Travelport Inc., are commencing a
private offering of $250 million aggregate principal amount of senior notes due 2016
(the Notes), subject to market and other customary conditions.
The Company intends to use the net proceeds from this offering to repay a portion of its
borrowings under its senior secured credit facilities, with the remainder to be used for general
corporate purposes, which may include repayment of indebtedness or business development
opportunities.
The Notes will be offered only to qualified institutional buyers pursuant to Rule 144A under
the Securities Act of 1933, as amended (the Securities Act), and outside the United States to
non-U.S. persons pursuant to Regulation S under the Securities Act. Initial issuance and sale of
the Notes will not be registered under the Securities Act, and the Notes may not be offered or sold
in the United States without an applicable exemption from the registration requirements of the
Securities Act.
This news release does not constitute an offer to sell or the solicitation of an offer to buy
the Notes. Any offer to sell the Notes will be made only by means of a confidential offering
circular. The Notes may not be offered or sold in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.
Forward-Looking Statements
Certain statements in this press release constitute forward-looking statements that involve
known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking statements. Statements
preceded by, followed by or that otherwise include the words believes, expects, anticipates,
intends, projects, estimates, plans, may increase, may fluctuate and similar
expressions or future or conditional verbs such as will, should, would, may and could are
generally forward-looking in nature and not historical facts. Any statements that refer to
expectations or other characterizations of future events, circumstances or results are
forward-looking statements.
Various risks that could cause future results to differ from those expressed by the
forward-looking statements included in this press release include, but are not limited to: the
impact that our outstanding indebtedness may have on the way we operate our business; factors
affecting the level of travel activity, particularly air travel volume, including security
concerns, general economic conditions, natural disasters and other disruptions; general economic
and business conditions in the markets in which we operate, including fluctuations in currencies;
pricing, regulatory and other trends in the travel industry; our ability to obtain travel supplier
inventory from travel suppliers, such as airlines, hotels, car rental companies, cruise lines and
other travel suppliers; our ability to develop and deliver products and services that are valuable
to travel agencies and travel suppliers and generate new revenue streams, including our new
universal desktop
product; risks associated with doing business in multiple countries and in multiple
currencies; maintenance and protection of our information technology and intellectual property; the
impact on supplier capacity and inventory resulting from consolidation of the airline industry;
financing plans and access to adequate capital on favorable terms; our ability to achieve expected
cost savings from our efforts to improve operational efficiency; our ability to maintain existing
relationships with travel agencies and tour operators and to enter into new relationships on
acceptable financial and other terms; and our ability to grow adjacencies, such as our recent
acquisition of Sprice and our controlling interest in eNett. Other unknown or unpredictable factors
also could have material adverse effects on our performance or achievements. In light of these
risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press
release may not occur. You are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date stated, or if no date is stated, as of the date of this
press release. Except to the extent required by applicable securities laws, the Company undertakes
no obligation to release any revisions to any forward-looking statements, to report events or to
report the occurrence of unanticipated events unless required by law.
Investor Contact:
Keith Russell, Head of Investor Relations, +44 7775 788659, or keith.russell@travelport.com
Chris Tyson, Treasurer, +44 1753 288248, or chris.tyson@travelport.com