Fri 12/18/2020 13:31 PM
Travelport on Dec. 17 used $210 million of the $235 million of net proceeds from the eNett sale to pay down its $1.78 billion superpriority L+700 bps term loan due 2025, according to sources. Continue reading for our Americas Core Credit team's analysis of the Travelport superpriority term loan and request a trial for access to the linked documents as well as our analysis and reporting on hundreds of other stressed, distressed and performing credits.
Wex Inc. said
on Dec. 15 that it completed the acquisition of payment services business eNett and eNett’s minority owner Optal for a total consideration of about $577.5 million with cash on hand. The parties also settled the litigation
related to the disputed acquisition.
The credit agreement stipulates
that Travelport can retain $25 million of the proceeds from an eNett sale with the remainder directed to repayment of the superpriority term loan, as reported.
Travelport did not immediately respond to a request for comment.
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