Bondholder Dissidents Oppose Travelport Restructuring

Sheahan, Matthew
September 2011
High Yield Report;9/26/2011, p20
The article discusses the planned debt exchange of Atlanta, Goergia-based Travelport, The Blackstone Group's portfolio company, in order to restructure its PIK term loans due 2012. Despite opposition from over 25% of its bondholders, the restructuring involves extending the maturity of PIK loans to 2016, issuing 342.5 million dollars in second-lien term loans and paying lenders a consent fee. The bondholders claim that the restructuring would lead to inability to pay the current obligations.


Related Articles

  • Travelport Delays Amendment Vote. Sheahan, Matthew // High Yield Report;10/3/2011, p13 

    This article reports on the decision of the travel transaction processing service provider Travelport to delay a vote on an amendment that would allow it to restructure its debt in 2011. The company will decide whether it can restructure its term loans by extending their maturities. The...

  • Travelport Alters Plan After Bondholders Object. Sheahan, Matthew // High Yield Report;10/3/2011, p19 

    This article reports on the decision of the travel transaction processing service provider Travelport to make changes to its restructuring plan in 2011. Travelport made the changes to address opposition by bondholders. The company removed a second-lien loan opposed by bondholders, raised the...

  • DEBT RESTRUCTURE GIVES BELIZE A BREATHER. Guerrero, Antonio // Global Finance;Apr2007, Vol. 21 Issue 4, p6 

    The article reports on the negotiation made by Belizean government with the bondholders concerning its debt in Belize. The government negotiated more than 98 percent of its debt with bondholders and offered to swap $497 million in foreign commercial debt for new bonds. Inorder to complete the...

  • Freescale Bondholders Trade Up Into Term Loan. Sheahan, Matthew // High Yield Report;3/2/2009, Vol. 20 Issue 9, p14 

    The article reports that the bondholders of Freescale Semiconductor have traded into term loan. The company's bondholders who represent approximately 2.89 billion U.S. dollar in notes committed to exchange such notes for 694 million U.S. dollar of new term loan which will mature on December 15,...

  • Arch Coal Files Chapter 11. Lewis, Jakema // High Yield Report;1/11/2016, p1 

    The St. Louis company will eliminate more than $4.5 billion in debt under a restructuring agreement reached with lenders.ü

  • Travelport Seeks $1.55B First Lien. Sibayan, Karen // High Yield Report;6/10/2013, p4 

    The article reports that travel firm Travelport is seeking a first lien term loan that is led by financial services company Credit Suisse.

  • Price Talk on Travelport Loan Narrows. Bisbey, Allison // High Yield Report;5/14/2012, p2 

    The article reports a drop in the price of a 175 million U.S. dollar term loan being sought by Travelport to a spread of Libor plus 950 basis points (bps) with a 1.5 percent Libor floor.

  • Debt Swap Nears For Venezuela.  // Emerging Markets Monitor;11/18/2002, Vol. 8 Issue 30, p9 

    Focuses on the plans of the Venezuelan government for a debt restructuring in 2002. Terms of the proposals for a domestic debt swap; Opposition to the debt swap proposals.

  • Europe's Bondholders Gain in Restructurings. Husband, Sarah // Bank Loan Report;4/22/2002, Vol. 17 Issue 16, p1 

    Focuses on the benefits posed by debt restructuring to bondholders in Europe.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics