CWT recapitalizes again
The TMC is now owned by a consolidated group of investors committed to supporting the long-term growth of the business
Global business travel and meetings solutions provider CWT Travel Holdings announced it has completed recapitalization transactions that have significantly strengthened and deleveraged its balance sheet and provides a strong financial foundation with enhanced flexibility.
Key takeaways
- CWT has reduced its outstanding debt by over $450 million, substantially decreased its annual interest expense, and extended its debt maturities;
- "This recapitalization has solidified our position as one of the industry’s leading travel management companies. With a strong financial foundation and capital structure, CWT will provide best-in-class service to customers and partners, invest in technology and people, and deliver on our product roadmap to meet the changing landscape of business travel," the company said in a statement.
Get the full story at CWT