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Expedia Raising $3.2B In Capital

  • CNBC, Thursday, April 23, 2020 10:04 AM
As the pandemic has brought travel to a standstill, Expedia is resorting to raising $3.2 billion in new capital, CNBC reports. “The company is raising $1.2 billion in private placement of perpetual preferred stock and $2 billion in new debt financing,” it writes. “Funds managed by affiliates of Apollo Global Management and Silver Lake will provide the equity investment and will each get a spot on the company’s board, according to Expedia.”

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