Paul Hastings Advised Priority Lenders on Travelport’s $4.3+ Billion Recapitalization and Equity Financing

January 02, 2024

Paul Hastings LLP advised an ad hoc group of priority term loan lenders in connection with the transformative and comprehensive $4.3+ billion recapitalization of Travelport Worldwide Limited, a global technology company that powers travel bookings for hundreds of thousands of travel suppliers worldwide.

The ad hoc group was instrumental in negotiating a transaction whereby the junior lenders and existing equity sponsors infused $570 million of new equity financing, which was coupled with a significant deleveraging and equitization of Travelport’s junior debt and a $250 million paydown of the priority term loans. The transaction was completed on a fully consensual, out-of-court basis.

Financial Restructuring co-chair Jayme Goldstein led the cross-border Paul Hastings team, which also included partners Alex Cota, Allison Miller, Helena Potts, Dan Fliman, and Sal Perrotto; Of Counsel Matthew Micheli, Gary Silber, Jeremy Evans, and Matt Garofalo; and associates Isaac Sasson, Sandra Rubinchik, Justin Zeizel, Kevin Shum, Matthew Friedrick, Ludovico Giannotti, Christine Geils, and Leonie Koch.

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