eDreams ODIGEO secures debt refinancing
Online travel giant eDreams ODIGEO has managed to secure a €425 million refinancing of its debt.
In a statement on Friday it said the debt offering ‘was well received, allowing to price at the tight end of the guidance, further demonstrating the bond market’s support for the company, its management team and its strategy’.
The Barcelona-business, which owns several travel brands including eDreams and Opodo, said it received orders from over 100 investors from the US and every major European country in which it operates, including the UK, France, Germany, Spain, Italy, and Sweden.
CFO David Elizaga said: "We are very pleased with the strong support we have received from the financial markets. This puts the company in a much stronger position, with greater flexibility, and reconfirms the strategy and performance of the company."
The settlement, due to be completed by September 25, is subject to customary conditions.
eDreams ODIGEO had sought the refinancing just months after announcing it had rejected unsolicited offers from potential investors.
The company announced in March that it had rejected unsolicited offers from potential investors, which it had been considering since November 2017.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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