Expedia offer US$500 million in loan notes

12th Jun 2008

Expedia has announced that it plans to privately offer US$500 million of senior unsecured notes guaranteed by certain of its subsidiaries. The Notes are expected to have a maturity of eight years, and the timing of the closing of the offering will be subject to market conditions. Expedia, Inc. plans to use the net proceeds of the offering for general corporate purposes and to repay borrowings of $330 million currently outstanding under its credit facility.The offering will be made only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act.
The Notes will not be registered under the Securities Act and may not be offered or sold without registration unless an exemption from such registration is available.


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