NEEDHAM, Mass., July 8, 2020 /PRNewswire/ -- Tripadvisor,
Inc. (Nasdaq: TRIP) ("Tripadvisor") today announced that it has
priced an offering of $500 million
aggregate principal amount of new 7.000% senior notes due 2025 (the
"Notes") in a private offering. The sale of the Notes is expected
to be completed on or about July 9,
2020, subject to customary closing conditions.
The Notes will be senior unsecured obligations of Tripadvisor
and will be guaranteed by each of its domestic subsidiaries that
guarantees Tripadvisor's credit facility. Tripadvisor intends to
use the net proceeds from the offering for general corporate
purposes.
The Notes and related guarantees are being offered only to
persons reasonably believed to be qualified institutional buyers in
reliance on Rule 144A under the Securities Act of 1933, as amended
(the "Securities Act"), or outside the
United States to non-U.S. persons in compliance with
Regulation S under the Securities Act. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
the Notes and related guarantees. Any offers of the Notes and
related guarantees are being made only by means of a private
offering memorandum. The Notes and related guarantees have not been
registered under the Securities Act, or the securities laws of any
other jurisdiction, and may not be offered or sold in the United States without registration or an
applicable exemption from registration requirements.
About Tripadvisor
Tripadvisor, the world's largest travel platform, helps 463
million travelers each month make every trip their best trip.
Travelers across the globe use the Tripadvisor site and app to
browse 860 million reviews and opinions of 8.7 million
accommodations, restaurants, experiences, airlines and cruises.
Whether planning or on a trip, travelers turn to Tripadvisor to
compare low prices on hotels, flights and cruises, book popular
tours and attractions, as well as reserve tables at great
restaurants. Tripadvisor, the ultimate travel companion, is
available in 49 markets and 28 languages.
Forward-Looking Statements
Statements regarding the offering and the expected use of
proceeds therefrom are "forward-looking statements" and are subject
to known and unknown risks and uncertainties that may cause actual
results to differ materially from those expressed in such
forward-looking statements. These risks and uncertainties include,
but are not limited to, the ability to complete the offering on
favorable terms, if at all, and general market conditions
(including the COVID-19 pandemic and related economic impact) which
might affect the offering. Additional information concerning these
and other important risks and uncertainties can be found in the
company's filings with the SEC, including under the captions
"Cautionary Note Regarding Forward-Looking Statements" and "Risk
Factors" in the company's Annual Report on Form 10-K for the year
ended December 31, 2019 and Quarterly
Report on Form 10-Q for the period ended March 31, 2020. The company undertakes no
obligation to update any forward-looking statements to reflect
subsequent events or circumstances.
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SOURCE Tripadvisor