Expedia Group announces USD1.2bn private equity investment & USD2bn in new debt

Expedia Group announced (23-Apr-2020) it is raising approximately USD3.2 billion of of new capital. The funding consists of:

• Equity investment of USD1.2 billion by Apollo and Silver Lake, two private equity firms. The equity will be non-voting and non-convertible preferred stock;
• USD2 billion in new debt financing.

Expedia also announced it is ceasing payment of dividends "until the business rebounds". [more - original PR]