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Subsequent Events
3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events Subsequent EventOn April 14, 2022, Expedia Group entered into a new $2.5 billion credit agreement (the “New Revolving Credit Facility”). Aggregate commitments under the New Revolving Credit Facility total $2.5 billion (with a $120 million letter of credit sublimit). The New Revolving Credit Facility matures on April 14, 2027. Loans under the New Revolving Credit Facility will bear interest at a rate equal to an index rate plus a margin (a) in the case of term benchmark loans, ranging from 1.00% to 1.75% per annum, depending on Expedia Group’s credit ratings, and (b) in the case of base rate loans, ranging from 0.00% to 0.75% per annum, depending on Expedia Group’s credit ratings. Such interest is payable (i) with respect to term benchmark loans, at the end of each applicable interest period, but in no event less frequently than every three months and (ii) with respect to base rate loans, quarterly. A participation fee, accruing at a rate equal to the margin used to determine the interest rate for term benchmark loans and payable quarterly, is payable in respect of outstanding letters of credit under the New Revolving Credit Facility (together with fronting fees and customary issuance fees). A fee is payable quarterly in respect of undrawn commitments under the New Revolving Credit Facility at a rate ranging from 0.10% to 0.25% per annum, depending on Expedia Group’s credit ratings. The New Revolving Credit Facility contains certain customary affirmative and negative covenants, representations and warranties and events of default (subject in certain cases to customary grace and cure periods). The occurrence of an event of default under the New Revolving Credit Facility could result in the termination of the commitments under the New Revolving Credit Facility and the acceleration of all outstanding borrowings under the New Revolving Credit Facility. The terms of the New Revolving Credit Facility require Expedia Group to not exceed a specified maximum consolidated leverage ratio as of the end of each fiscal quarter. In connection with the Expedia Group’s entry into the New Revolving Credit Facility, Expedia Group terminated all outstanding commitments and repaid all outstanding obligations under the Revolving Credit Facility and Foreign Credit Facility.