Hostelworld Group PLC Early Debt Repayment (5323V)
05 Aprile 2023 - 5:16PM
UK Regulatory
TIDMHSW
RNS Number : 5323V
Hostelworld Group PLC
05 April 2023
LEI:213800OC94PF2D675H41
Hostelworld Group plc ("Hostelworld")
Commences debt repayment with significant voluntary paydown
Hostelworld, a leading global social network powered OTA focused
on the hostelling category, is pleased to announce a voluntary
early repayment of EUR10 million of its EUR30 million term loan
facility. This payment represents 30% of the outstanding five-year
facility. The facility was drawn down in February 2021 from certain
funds (or affiliates or subsidiaries of such funds) and/or accounts
managed, advised or controlled by HPS Investment Partners, LLC or
its subsidiaries or affiliates (together, " HPS " ). Following this
early repayment, the current outstanding debt to HPS is EUR24.4
million, which includes PIK interest of EUR4.4 million. We continue
to make progress on our plans to refinance the remaining balance of
this five-year facility.
Hostelworld Group plc Corporate@hostelworld.com
Gary Morrison, Chief Executive Officer
Caroline Sherry, Chief Financial Officer
About Hostelworld Group
Hostelworld Group Plc is a ground-breaking social network
powered OTA focused on the hostelling category, with a clear
mission to help travellers find people to hang out with. Our
mission statement is founded on the insight that the vast majority
of travellers go hostelling as a means to meet other people; which
we facilitate through a series of Social features on our platform
that connect our travellers in hostels and cities based on their
booking data. To date the strategy has been extraordinarily
successful, generating significant word of mouth recommendations
from our customers and strong endorsements from our Hostel
partners.
Founded in 1999, Hostelworld is a well-known trusted brand with
250 employees across 11 countries; hostel partners in 170
countries; and a strong commitment to building a better world in
all that we do. In particular, our focus in the last few years has
been on improving the sustainability of hostelling industry,
through our membership of the Global Sustainable Tourism Council
(GSTC); our active involvement in the Global Tourism Plastics
Initiative (GTPI); our partnerships with Bureau Veritas to
establish emissions benchmarks for the hostelling industry; and our
recent partnership with the South Pole to be a climate neutral
company in 2021 and 2022.
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END
DOCIAMATMTBMBJJ
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April 05, 2023 11:16 ET (15:16 GMT)
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