Liberty TripAdvisor Holdings, Inc.: debt financing — Liberty TripAdvisor and Tripadvisor enter $680.8M loan facilities in connection with merger

Liberty TripAdvisor Holdings, Inc.

Tripadvisor amends credit agreement to add $350M term loan B facility maturing 2031 at SOFR+2.75% to refinance convertible notes.
Liberty TripAdvisor secures up to $330.8M loan from Tripadvisor at SOFR+0.10%+6.00% margin, maturing by Sept 2025.
Proceeds from TripAdvisor loan to be used to repurchase Liberty TripAdvisor's 0.50% exchangeable debentures due 2051.
Both facilities are secured by substantially all assets of the respective borrowers and contain customary covenants.
The loan agreements are part of the pending merger where Merger Sub merges into Liberty TripAdvisor and then into a Tripadvisor subsidiary.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.996

Liberty TripAdvisor Holdings, Inc. incurred term loan of an amount not to exceed $330,805,418 with Tripadvisor, Inc. at secured overnight financing rate as administrated by the Federal Reserve Bank of maturing (a) the earlier of (1) September 18, 2025 and (2) 15 business days after the termination of the Merger Agreement or (b) such later date as jointly agreed to by.

Instrument: term loan
Principal: an amount not to exceed $330,805,418
Counterparty: Tripadvisor, Inc.
Rate: secured overnight financing rate as administrated by the Federal Reserve Bank of
Maturity: (a) the earlier of (1) September 18, 2025 and (2) 15 business days after the termination of the Merger Agreement or (b) such later date as jointly agreed to by
Event: incurrence

Exact text from the filing

Liberty TripAdvisor’s wholly owned subsidiaries, as guarantors, and Tripadvisor, as lender. The Loan Agreement provides for a term loan facility in an amount not to exceed $330,805,418 (the “ TRIP Loan Facility ”). Borrowings under the TRIP Loan Facility bear interest at the secured overnight financing rate as administrated by the Federal Reserve Bank of New

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Source: SEC EDGAR

accession 0001104659-25-026690

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