Business Context and Reporting Period
Company: Expedia, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: September 5, 2014
Event: Entry into a Material Definitive Agreement regarding the company's revolving credit facility.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or specific debt balances. The document focuses exclusively on the terms of a credit facility amendment.
Material Changes
- Credit Facility Extension: The company entered into an Amended and Restated Credit Agreement extending the maturity of its existing Revolving Credit Facility from its previous date to September 5, 2019.
- Covenant Modifications: The agreement includes certain modifications to the covenants and other terms of the facility.
- Parties Involved: The agreement involves Expedia, Inc. (Delaware and Washington entities), Travelscape, LLC, Hotwire, Inc., and lenders led by JPMorgan Chase Bank, N.A. (Administrative Agent) and J.P. Morgan Europe Limited (London Agent).
Guidance, Outlook, and Risks
Management Commentary: The filing notes that JPMorgan Chase and J.P. Morgan Europe have provided and may continue to provide financial advisory, investment banking, and commercial banking services to the company for customary fees.
Risks and Contingencies: The filing states that the description of the Credit Agreement is not complete and is qualified in its entirety by reference to the actual agreement attached as Exhibit 10.1. No specific financial risks or unusual items are detailed in the text of this summary.
Investor Verification Checklist
- Review Exhibit 10.1 (Amended and Restated Credit Agreement) for specific details on interest rates, fees, and the exact nature of covenant modifications.
- Verify the total committed amount of the revolving credit facility, as the principal amount is not explicitly stated in the summary text.
- Confirm the impact of the extended maturity date (2019) on the company's long-term liquidity planning.