Summary
Booking Holdings Inc. (BKNG) has filed an 8-K report detailing the successful issuance of €1.9 billion in senior unsecured notes. This issuance includes €600 million of 3.500% Senior Notes due 2030, €700 million of 4.000% Senior Notes due 2034, and €600 million of 4.500% Senior Notes due 2039. The proceeds from these notes are intended to fund general corporate purposes. The company has entered into an Underwriting Agreement with several reputable financial institutions, indicating a well-executed public offering under its existing registration statement. This move strengthens Booking Holdings' financial flexibility and extends its debt maturity profile.
Key Highlights
- 1Issuance of €1.9 billion in aggregate principal amount of Senior Notes.
- 2The notes are divided into three tranches: €600M of 3.500% notes due 2030, €700M of 4.000% notes due 2034, and €600M of 4.500% notes due 2039.
- 3The offering was conducted as a registered public offering under an existing shelf registration statement.
- 4The notes are general senior unsecured obligations of the Company.
- 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 includes customary events of default and provisions for redemption, including par call options and potential redemption under specific tax event scenarios.
- 7The issuance aims to enhance the Company's financial flexibility and diversify its funding sources.