Travelport and Ad Hoc Lender Group Steering Committee Reach Agreement

Travelport | September 17, 2020

Travelport Worldwide Limited ("Travelport" or the "Company"), a leading travel technology company, today announced that it has reached an agreement with the Steering Committee of the Ad Hoc Group of Lenders (the "Ad Hoc Group") to effectuate certain financing open market purchase and exchange transactions, pursuant to which, among other things, the Company's existing lenders will provide $500 million in new funding to the Company and the parties will release all related litigation and claims against one another. The financing open market purchase and exchange transactions will be open to all lenders on a pro rata basis. The transactions are expected to close by September 24, 2020, and have been backstopped by certain members of the Ad Hoc Group and affiliates of the Company's existing equity owners, Siris Capital Group, LLC ("Siris") and Evergreen Coast Capital Corp. ("Evergreen"), the private equity affiliate of Elliott Management Corporation ("Elliott").

Spotlight

We live in an increasingly global world; new markets are always on the horizon, and with new markets comes the need for expanded services. One aspect of this globalization is the rise in business travel, which shows no signs of slowing down. The business travel industry is a signi¬cant part of the global economy, contributing $1.23 trillion U.S. dollars in 2017 – with business travel spending expected to climb seven percent in 2019, according to Statista.

Spotlight

We live in an increasingly global world; new markets are always on the horizon, and with new markets comes the need for expanded services. One aspect of this globalization is the rise in business travel, which shows no signs of slowing down. The business travel industry is a signi¬cant part of the global economy, contributing $1.23 trillion U.S. dollars in 2017 – with business travel spending expected to climb seven percent in 2019, according to Statista.

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