Travelport Worldwide prepays $50 million of term loans in September

By Sarah Lizee

Olympia, Wash., Nov. 2 – Travelport Worldwide Ltd. made a voluntary prepayment of $50 million on the term loans under its senior secured credit agreement in September, according to a 10-Q filing with the Securities and Exchange Commission.

Travelport said it recognized $1 million as a loss on debt retirement.

As a result of the prepayment, the company said it is not required to repay quarterly installments of the term loans until the maturity date in September 2021.

However, Travelport classified a portion of the term loans as a current portion of long-term debt, as it intends to make additional voluntary prepayments from cash flows from operations, which the company expects to occur within the next twelve months.

Travelport is an Atlanta-based provider of transaction processing services to the travel industry.

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