Travelport launches $1.09 billion of incremental bank debt

By Sara Rosenberg

New York, April 30 - Travelport Inc. launched $1.09 billion of incremental bank debt on Monday, according to a market source.

UBS and Credit Suisse are the lead banks on the deal.

The debt is comprised of a $25 million revolver add-on, a $25 million synthetic letter-of-credit facility add-on and a $1.04 billion first-lien term loan B add-on, the source said.

Proceeds will be used to refinance Worldspan LP's $1 billion credit facility that was obtained late last year in connection with its merger into Travelport.

In addition, Travelport is looking to reprice its euro term loan from current pricing of Euribor plus 275 basis points, the source added.

Travelport is a Parsippany, N.J.-based travel distribution services company.

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