Early Debt Repayment

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 €10 million of its €30 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 €24.4 million, which includes PIK interest of €4.4 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DOCIAMATMTBMBJJ
UK 100

Latest directors dealings