A group of Travelport equity holders and lenders have completed their US$570 million equity financing investment into the company, a move Travelport said "significantly deleverages" its balance sheet.
The investment, announced last month, changes Travelport's ownership structure as some owners have converted debt to equity, and the current structure now consists of investors including Elliott Investment Management, Davidson Kempner Capital Management, Canyon Partners and Siris Capital.
Travelport CEO Greg Webb in a statement said the investment sets up Travelport "for increased speed, agility and innovation in 2024," with the capability for Travelport to continue investing in its technology platforms.