eDreams ODIGEO seeks €425 million refinancing
Online travel giant eDreams ODIGEO is seeking to refinance just months after announcing that it had rejected unsolicited offers from potential investors.
The Barcelona-business, which owns several travel brands including eDreams and Opodo, has launched an offering of senior secured notes to the value of €425 million, due in 2023. Some of its subsidiaries will guarantee the bonds, it said, and they will also be insured by certain of its assets.
In a statement, it said: "If the offer is completed, it is expected that the net amount obtained from this, together with the existing cash on the balance sheet, will be used for the total amortization of the outstanding senior guaranteed bonds, denominated in euros, with a coupon of 8.50% and due in 2021, issued by eDreams Odigeo on October 4, 2016, in accordance with the terms of said bonds, as well as the payment of commissions, fees and other expenses associated with the offer and amortization."
The company announced in March that it had rejected unsolicited offers from potential investors, which it had been considering since November 2017.
At the time, chairman Philip Wolf said: "The Board has agreed that eDreams ODIGEO is best placed to capitalize on the renewed strategic focus, operational success and strengthened financial position.
"The Board is confident that the management team will continue to successfully deliver on the strategy, driving sustainable growth and maximizing value for stakeholders."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025