Issuer:
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Booking Holdings Inc. (the Company)
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Trade Date:
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April 8, 2020.
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Settlement Date:
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April 13, 2020 (T+2).
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Ratings*
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Moody's: A3; S&P: A-
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Format:
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SEC Registered.
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Notes:
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$1,000,000,000 4.100% Senior Notes due 2025 (the 2025 Notes).
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$750,000,000 4.500% Senior Notes due 2027 (the 2027 Notes).
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$1,500,000,000 4.625% Senior Notes due 2030 (the 2030 Notes and collectively, the Notes).
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Principal Amount:
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$1,000,000,000 for the 2025 Notes.
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$750,000,000 for the 2027 Notes.
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$1,500,000,000 for the 2030 Notes.
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Maturity Date:
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April 13, 2025 for the 2025 Notes.
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April 13, 2027 for the 2027 Notes.
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April 13, 2030 for the 2030 Notes.
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Benchmark Treasury:
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2025 Notes: 0.500% UST due March 31, 2025.
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2027 Notes: 0.625% UST due March 31, 2027.
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2030 Notes: 1.500% UST due February 15, 2030.
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Benchmark Treasury Price / Yield:
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2025 Notes: 100-03 1/4/0.479%.
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2027 Notes: 99-24/0.662%.
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2030 Notes: 106-29/0.771%.
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Spread to Benchmark Treasury:
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2025 Notes: +362.5 basis points.
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2027 Notes: +387.5 basis points.
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2030 Notes: +387.5 basis points.
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Yield to Maturity:
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2025 Notes: 4.104%.
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2027 Notes: 4.537%.
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2030 Notes: 4.646%.
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Initial Public Offering Price:
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99.982% of principal amount for the 2025 Notes.
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99.780% of principal amount for the 2027 Notes.
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99.834% of principal amount for the 2030 Notes.
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Gross Proceeds:
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2025 Notes: $999,820,000.
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2027 Notes: $748,350,000.
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2030 Notes: $1,497,510,000.
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Net Proceeds to Issuer (before expenses):
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2025 Notes: $996,320,000.
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2027 Notes: $745,350,000.
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2030 Notes: $1,490,760,000.
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Interest Payment Dates:
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April 13 and October 13.
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First Interest Payment Date:
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October 13, 2020.
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Record Dates:
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April 1 and October 1.
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