REG - Hostelworld Grp PLC - Early Debt Repayment

HostelworldAnnouncement

05/04/2023 16:30

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RNS Number : 5323V  Hostelworld Group PLC  05 April 2023

LEI:213800OC94PF2D675H41

 

Hostelworld Group plc ("Hostelworld")

Commences debt repayment with significant voluntary paydown

 

Hostelworld, a leading global social network powered OTA focused on the
hostelling category, is pleased to announce a voluntary early repayment of
€10 million of its €30 million term loan facility. This payment represents
30% of the outstanding five-year facility. The facility was drawn down in
February 2021 from certain funds (or affiliates or subsidiaries of such funds)
and/or accounts managed, advised or controlled by HPS Investment Partners, LLC
or its subsidiaries or affiliates (together, "HPS"). Following this early
repayment, the current outstanding debt to HPS is €24.4 million, which
includes PIK interest of €4.4 million. We continue to make progress on our
plans to refinance the remaining balance of this five-year facility.

 

 

Hostelworld Group plc
 
                     Corporate@hostelworld.com

Gary Morrison, Chief Executive Officer

Caroline Sherry, Chief Financial Officer

 

 

 

About Hostelworld Group

Hostelworld Group Plc is a ground-breaking social network powered OTA focused
on the hostelling category, with a clear mission to help travellers find
people to hang out with. Our mission statement is founded on the insight that
the vast majority of travellers go hostelling as a means to meet other people;
which we facilitate through a series of Social features on our platform that
connect our travellers in hostels and cities based on their booking data. To
date the strategy has been extraordinarily successful, generating significant
word of mouth recommendations from our customers and strong endorsements from
our Hostel partners.

Founded in 1999, Hostelworld is a well-known trusted brand with 250 employees
across 11 countries; hostel partners in 170 countries; and a strong commitment
to building a better world in all that we do. In particular, our focus in the
last few years has been on improving the sustainability of hostelling
industry, through our membership of the Global Sustainable Tourism Council
(GSTC); our active involvement in the Global Tourism Plastics Initiative
(GTPI); our partnerships with Bureau Veritas to establish emissions benchmarks
for the hostelling industry; and our recent partnership with the South Pole to
be a climate neutral company in 2021 and 2022.

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