BELLEVUE, Wash., May 28, 2015 /PRNewswire/ -- Today, Expedia,
Inc. ("Expedia") announced that it is commencing an offering of
euro-denominated senior unsecured notes (the "Notes"), subject to
market and other conditions. If the offering is consummated,
Expedia expects to use the net proceeds from the offering to fund a
portion of the cash consideration payable in connection with its
previously announced proposed acquisition of Orbitz Worldwide, Inc.
and for other general corporate purposes. There can be no assurance
that the issuance and sale of the Notes will be consummated.
BNP Paribas, Goldman, Sachs & Co, J.P. Morgan Securities
plc, Merrill Lynch International, Mizuho International plc and RBC
Europe Limited are the joint book-running managers of the offering,
and HSBC Bank plc, Mitsubishi UFJ Securities International plc,
SMBC Nikko Capital Markets Limited, Barclays Bank plc and U.S.
Bancorp Investments, Inc. are the co-managers of the offering. The
offering is being made pursuant to an effective shelf registration
statement (File No. 333-197974), as amended, filed with the
Securities and Exchange Commission ("SEC"). The offering will be
made only by means of a prospectus supplement and the accompanying
base prospectus, copies of which may be obtained by contacting: BNP
Paribas, 10 Harewood Avenue, London, NW1 6AA, United Kingdom (fax: +44 20 7595 2555);
Attention: Fixed Income Syndicate, Goldman, Sachs & Co., 200
West Street, New York, NY 10282;
Attention: Registration Department or J.P. Morgan Securities plc,
25 Bank Street, Canary Wharf, London E14 5JP, United Kingdom (fax: +44 20 3493 0682; Email:
Head_of_EMEA_DCMG@jpmorgan.com); Attention: Head of Debt Syndicate
and Head of EMEA Debt Capital Markets Group. An electronic
copy of the preliminary prospectus supplement, together with the
accompanying prospectus, will be available on the SEC's website,
www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Expedia, Inc.
Expedia, Inc. (NASDAQ: EXPE) is one of the world's largest
travel companies, with an extensive brand portfolio that includes
leading online travel brands, such as:
- Expedia.com®, a leading full service online travel agency with
localized sites in 31 countries
- Hotels.com®, the hotel specialist with localized sites in more
than 60 countries
- Hotwire®, a leading discount travel site that offers opaque
deals in 12 countries throughout North
America, Europe and
Asia
- Travelocity®, a pioneer in online travel and a leading online
travel agency in the US and Canada
- Egencia®, a leading corporate travel management company
- Venere.com™, an online hotel reservation specialist in
Europe
- trivago®, a leading online hotel metasearch company with sites
in 51 countries
- Wotif Group, a leading operator of travel brands in the
Asia-Pacific region, including
Wotif.com®, lastminute.com.au®, travel.com.au, Asia Web Direct®,
LateStays.com and GoDo.com.au
- Expedia Local Expert®, a provider of online and in-market
concierge services, activities, experiences and ground
transportation in hundreds of destinations worldwide
- Classic Vacations®, a top luxury travel specialist
- Expedia® CruiseShipCenters®, a provider of exceptional value
and expert advice for travelers booking cruises and vacations
through its network of 180 franchise locations across North America
- CarRentals.com™, the premier car rental booking company on the
web.
Expedia delivers consumers value in leisure and business travel,
drives incremental demand and direct bookings to travel suppliers,
and provides advertisers the opportunity to reach a highly valuable
audience of in-market consumers through Expedia® Media Solutions.
Expedia also powers bookings for some of the world's leading
airlines and hotels, top consumer brands, high traffic websites,
and thousands of active affiliates through Expedia® Affiliate
Network.
Forward-Looking Statements. This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are not
guarantees of future performance. These forward-looking statements
reflect the views of our management regarding current expectations
and projections about future events and are based on currently
available information. The use of words such as "anticipates,"
"estimates," "expects," "intends," "plans," and "believes," among
others, generally identifies forward-looking statements. However,
these words are not the exclusive means of identifying such
statements. In addition, any statements that refer to expectations,
projections or other characterizations of future events or
circumstances are forward-looking statements and may include
statements relating to future revenues, expenses, margins,
profitability, net income/(loss), earnings per share and other
measures of results of operations and the prospects for future
growth of Expedia's business. These forward-looking statements are
inherently subject to uncertainties, risks and changes in
circumstances that are difficult to predict. Actual results and the
timing and outcome of events may differ materially from those
expressed or implied in the forward-looking statements for a
variety of reasons, including, among others: an increasingly
competitive global environment; risks related to our dynamic
industry; changes in search engine algorithms and dynamics or other
traffic-generating arrangements; our failure to maintain and expand
our relationships and contractual agreements with travel suppliers
or travel distribution partners; our failure to maintain and expand
our brand awareness or increased costs to do so; our failure to
invest in and adapt to technological developments or industry
trends; risks related to our acquisitions, investments or
significant commercial arrangements; risks relating to our
operations in international markets, including China; our failure to comply with current
laws, rules and regulations, or changes to such laws, rules and
regulations; application of existing tax laws, rules or
regulations; amendment to existing tax laws, rules or regulations
or enactment of new unfavorable tax laws, rules or regulations;
adverse outcomes in legal proceedings to which we are a party;
declines or disruptions in the travel industry; payments-related
and fraud risks; fluctuations in foreign exchange rates; volatility
in our stock price; liquidity constraints or our inability to
access the capital markets when necessary or desirable; system
interruption, security breaches or lack of redundancy in our
information systems; our failure to comply with governmental
regulation and other legal obligations related to our processing,
storage and use of personal information, payment card information
and other consumer data; failure to retain or motivate key
personnel or hire, retain and motivate qualified personnel,
including senior management; changes in control of Expedia;
management and director conflicts of interest; risks related to
actions taken by our business partners and third party service
providers, including failure to comply with our requirements or
standards or the requirements or standards of governmental
authorities, or any cessation of their operations; risks related to
the failure of counterparties to perform on financial obligations;
risks related to our long-term indebtedness; our inability to
effectively operate our businesses due to restrictive covenants in
the agreements governing our indebtedness; our failure to protect
our intellectual property or proprietary information from copying
or use by others, including potential competitors; and other risks
detailed in Expedia's public filings with the SEC, including its
annual report on Form 10-K for the year ended December 31, 2014 and subsequent Forms
10-Q. Other unknown or unpredictable factors also could have
a material adverse effect on our business, financial condition and
results of operations. In addition, in light of these risks and
uncertainties, the matters referred to in the forward-looking
statements contained in this press release may not in fact occur.
Accordingly, you should not place undue reliance on those
statements. Except as required by law, we undertake no obligation,
and do not intend, to publicly update or revise any forward-looking
statement or other statement in this press release, whether as a
result of new information, future events or otherwise, even if
experience or future events make it clear that any expected results
express or implied by these forward-looking statements will not be
realized.
Trademarks and logos are the property of their respective
owners. © 2015 Expedia, Inc. All rights reserved.
CST: 2029030-50
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SOURCE Expedia, Inc.