Travelport Gets $570 Million Equity in Debt Restructuring (1)

Travel retail platform Travelport Worldwide Limited has received a $570 million equity injection from a group of shareholders and creditors as part of a restructuring.

An infusion of cash is key for the company, whose liquidity had been described as “weak” by S&P Global Ratings in a downgrade last week.

As part of the deal, the UK-headquartered company will slash its debt pile by swapping into equity $2.4 billion of liabilities, said people familiar with the matter, who asked not to be identified because the details are private. The remaining debt will see maturities extended by five years, ...