NEEDHAM, Mass., July 8, 2020 /PRNewswire/ -- Tripadvisor, Inc. (Nasdaq: TRIP) ("Tripadvisor") today announced that it has priced an offering of $500 million aggregate principal amount of new 7.000% senior notes due 2025 (the "Notes") in a private offering. The sale of the Notes is expected to be completed on or about July 9, 2020, subject to customary closing conditions.
The Notes will be senior unsecured obligations of Tripadvisor and will be guaranteed by each of its domestic subsidiaries that guarantees Tripadvisor's credit facility. Tripadvisor intends to use the net proceeds from the offering for general corporate purposes.
The Notes and related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), or outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes and related guarantees. Any offers of the Notes and related guarantees are being made only by means of a private offering memorandum. The Notes and related guarantees have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.
Tripadvisor, the world's largest travel platform, helps 463 million travelers each month make every trip their best trip. Travelers across the globe use the Tripadvisor site and app to browse 860 million reviews and opinions of 8.7 million accommodations, restaurants, experiences, airlines and cruises. Whether planning or on a trip, travelers turn to Tripadvisor to compare low prices on hotels, flights and cruises, book popular tours and attractions, as well as reserve tables at great restaurants. Tripadvisor, the ultimate travel companion, is available in 49 markets and 28 languages.
Statements regarding the offering and the expected use of proceeds therefrom are "forward-looking statements" and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed in such forward-looking statements. These risks and uncertainties include, but are not limited to, the ability to complete the offering on favorable terms, if at all, and general market conditions (including the COVID-19 pandemic and related economic impact) which might affect the offering. Additional information concerning these and other important risks and uncertainties can be found in the company's filings with the SEC, including under the captions "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the period ended March 31, 2020. The company undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances.