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Travelport Worldwide unit upsizes note offering

U.K.-based payment services provider Travelport Worldwide Ltd unit Travelport Corporate Finance PLC upsized an offering of $650 million in aggregate principal amount of senior secured notes to $745 million.

The notes, which carry a coupon of 6.00% and mature March 15, 2026, were priced at 100%. They will be guaranteed fully and unconditionally on a senior secured basis by Travelport Ltd., the issuer's immediate parent company, and several of the latter's existing and future wholly owned units that also guarantee Travelport Worldwide's proposed new senior secured credit agreement.

The offering is expected to close on or about March 16, subject to customary closing conditions.

Travelport Worldwide said it expects to use the proceeds, together with borrowings under the new credit agreement and its cash on hand, to repay borrowings under its existing credit agreement in full and pay fees and expenses related to the offering.

Travelport Worldwide operates a platform that offers distribution, technology, payment, and other solutions for the travel and tourism industry.