Travelport Nixes Plan to Pay Interest In-Kind as Lenders Revolt

Travelport Worldwide Ltd. withdrew a loan amendment request that would have allowed the company to raise new capital and save cash by deferring interest payments on some of its debt, according to people with knowledge of the situation, who asked not to be identified because the matter is private.

• The loan amendment proposal comes as investors have grown concerned about the company’s liquidity
  • Commitments were due Friday
• Under the proposed amendment, Travelport wanted the ability to issue $200 million of junior debt
• The company also asked to pay the coupon on its super-priority term loan due 2025 in kind, or ...