LANGLEY, England, June 5, 2020 /PRNewswire/ Travelport Worldwide Limited “Travelport” or the “Company”, a number one travel expertise company, today introduced that it has bought commitments for $500 million in financing from associates of present owners, Siris Capital Group, LLC “Siris” and Evergreen Coast Capital Corp. “Evergreen”, the inner most equity affiliate of Elliott Management Corporation “Elliott”, and a further $500 million of available financing capacity. The funding provides Travelport with the liquidity needed to proceed to exceed the expectations of its clients despite the impact of the COVID 19 pandemic. It also allows the Company to continue to put money into its industry most advantageous know-how and next generation platform to make sure it is positioned for growth as travel returns.
“COVID 19 and the governmental response to the pandemic has had a terrible impact on the travel industry, adding our business, and we recognize the greater help from Siris and Evergreen as we work to get through this difficult time,” said Greg Webb, CEO of Travelport. “Their unwavering dedication and new capital be sure that we can proceed to satisfy the needs of our clients, help our personnel and take steps to emerge from this global health crisis in a powerful position. With the assist of our investment companions, we are confident in the long time viability of our business and we remain committed to continued technology investments and our transition to a next technology platform. “Elliott Management Corporation manages two multi approach funding funds which combined have greater than $40 billion of assets under management. Its flagship fund, Elliott Associates, L. P.
, was headquartered in 1977, making it probably the most oldest funds of its kind under steady control. The Elliott funds’ buyers come with pension plans, sovereign wealth funds, endowments, foundations, funds of funds, high net worth people and families, and personnel of the firm. This funding has been led by Evergreen Coast Capital, Elliott’s Menlo Park affiliate, which specializes in expertise investing.