Amex GBT refinances credit facility, extends term loan maturity to 2031, upsizes revolver to $360M

Global Business Travel Group, Inc.

New $1.4B term loan at SOFR+3.00% (margin reduction ~180 bps); matures July 26, 2031.
Revolving credit facility upsized from $50M to $360M (undrawn), maturing July 26, 2029.
Estimated interest savings of ~$25M in 2024 vs 2023 due to improved terms.
Total debt unchanged; company targets 1.5x–2.5x Net Debt/Adjusted EBITDA leverage.
Proceeds used to repay existing term loans in full; increased liquidity.

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