Brief: Liberty Tripadvisor Announces Agreement To Repurchase Portion Of Preferred Shares From Certares

Liberty TripAdvisor Holdings

22/03/2021 10:51

March 22 (Reuters) - Liberty Tripadvisor Holdings Inc
 LTRPA.O :
    * LIBERTY TRIPADVISOR ANNOUNCES AGREEMENT TO REPURCHASE
PORTION OF
PREFERRED SHARES FROM CERTARES
    * LIBERTY TRIPADVISOR HOLDINGS INC -  EXPECTS TO REPURCHASE
IN A
PRIVATE TRANSACTION ABOUT 40% OF 8% SERIES A PREFERRED STOCK OF
CO HELD BY CERTARES
    * LIBERTY TRIPADVISOR  -  PREFERRED SHARES WILL BE
REPURCHASED IN
EXCHANGE FOR A COMBINATION OF $92 MILLION VALUE OF TRIPADVISOR,
INC COMMON STOCK
    * LIBERTY TRIPADVISOR  -  DEAL IN EXCHANGE FOR A COMBINATION
INCLUDING PROCEEDS FROM PROPOSED NEW ISSUANCE OF EXCHANGEABLE
SENIOR DEBENTURES
    * LIBERTY TRIPADVISOR - CO, CERTARES HAVE AGREED THAT AN
ADDITIONAL DIVERSE DIRECTOR WILL BE ADDED TO CO'S BOARD
FOLLOWING TRANSACTION
    * LIBERTY TRIPADVISOR HOLDINGS INC - CERTARES HAS ALSO
PERMANENTLY
WAIVED ITS RIGHT TO APPOINT A PREFERRED STOCK DIRECTOR TO CO'S
BOARD
    * LIBERTY TRIPADVISOR -ALTHOUGH GREG O'HARA WILL RESIGN AS
PREFERRED STOCK DIRECTOR, BOARD DETERMINED TO IMMEDIATELY
RE-ELECT O'HARA AS CLASS III MEMBER
    * LIBERTY TRIPADVISOR - ANNOUNCING LAUNCH OF PROPOSED
OFFERING OF
EXCHANGEABLE DEBENTURES WITH INITIAL AGGREGATE PRINCIPAL AMOUNT
OF $300 MILLION
    * LIBERTY TRIPADVISOR - CONCURRENT WITH CLOSING OF
EXCHANGEABLE
DEBENTURES, CO PLANS TO TERMINATE ITS $25 MILLION SENIOR SECURED
REVOLVING CREDIT FACILITY
    * LIBERTY TRIPADVISOR HOLDINGS INC - CERTARES PERMANENTLY
WAIVES
PUT RIGHT ON REMAINING PREFERRED SHARES

Source text for Eikon:  ID:nBw5tnkwa 
Further company coverage:  LTRPA.O 

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