8-KMaterial AgreementsFinancial EventsExhibits & Filings

Expedia Group, Inc. 8-K Report, Material Agreement (Jul 14, 2005)

Filed July 14, 2005For Securities:EXPE

Summary

Expedia, Inc. filed a Form 8-K on July 14, 2005, to report a significant material definitive agreement. Specifically, on July 8, 2005, the company entered into a new unsecured $1 billion, five-year revolving credit facility. This facility is intended to support general corporate purposes and includes Expedia, Inc. (Delaware), Expedia, Inc. (Washington), Travelscape, Inc., Hotels.com, and Hotwire, Inc. as borrowers. The availability of this credit facility is contingent upon the completion of Expedia's spin-off from IAC/InterActiveCorp. The agreement highlights Expedia's strategic move to secure substantial financing ahead of its separation, ensuring operational flexibility and funding for future growth initiatives. Investors should note the significant credit line and its importance for the company's post-spin-off financial structure.

Key Highlights

  • 1Entry into a material definitive agreement for a new credit facility.
  • 2New unsecured revolving credit facility valued at $1 billion.
  • 3The credit facility has a five-year term.
  • 4The facility is available for general corporate purposes.
  • 5Multiple Expedia subsidiaries are listed as borrowers: Expedia, Inc. (DE), Expedia, Inc. (WA), Travelscape, Inc., Hotels.com, and Hotwire, Inc.
  • 6The credit facility's effectiveness is subject to the completion of Expedia's spin-off from IAC/InterActiveCorp.

Frequently Asked Questions

The primary purpose of this Form 8-K filing is to report Expedia, Inc.'s entry into a material definitive agreement, specifically a new $1 billion unsecured revolving credit facility.

The new credit facility is an unsecured revolving credit facility with a total amount of $1 billion and a term of five years.

The lenders' obligation to provide loans under the facility is subject to certain conditions, most notably the completion of Expedia's spin-off from IAC/InterActiveCorp.

The borrowers under this credit facility include Expedia, Inc. (a Delaware corporation), Expedia, Inc. (a Washington corporation), Travelscape, Inc. (a Nevada corporation), Hotels.com (a Delaware corporation), and Hotwire, Inc. (a Delaware corporation).