Summary
Booking Holdings Inc. has announced the successful issuance of €1.8 billion in senior unsecured notes through a registered public offering. This offering comprises three tranches: €600 million of 3.250% Senior Notes due 2032, €500 million of 3.750% Senior Notes due 2037, and €700 million of 3.875% Senior Notes due 2045. The notes are general senior unsecured obligations of the company, ranking equally with other senior unsecured debt. The issuance aims to provide Booking Holdings with additional capital, potentially for general corporate purposes, strategic initiatives, or to manage its existing debt structure. The fixed interest rates on these notes are notable, offering a degree of certainty regarding future interest expenses. Investors in these notes are lending to a well-established entity in the travel and online booking sector, with the notes being governed by a standard indenture that includes customary events of default.
Key Highlights
- 1Booking Holdings Inc. issued €1.8 billion in senior unsecured notes in a registered public offering.
- 2The offering includes three tranches: €600 million (3.250% due 2032), €500 million (3.750% due 2037), and €700 million (3.875% due 2045).
- 3These notes are general senior unsecured obligations of the company, ranking equally with other senior unsecured debt.
- 4The issuance was facilitated by an Underwriting Agreement with several prominent financial institutions.
- 5The company has appointed U.S. Bank Europe DAC, UK Branch as paying agent and U.S. Bank Trust Company, National Association as transfer agent and registrar.
- 6The Indenture governing the notes includes customary events of default, such as failure to make payments and bankruptcy.
- 7The company can redeem the notes under specific conditions, including par call options and in the event of certain U.S. taxation developments.