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Mondee Holdings, Inc. Finalizes Long-Term Extensions of Term Loan and Preferred Equity with Receipt of $15M Letter of Credit

Sep 17, 2024•over 1 year ago

Contract Type

agreement

AustinLeisureTravel

Description

Mondee Holdings, Inc. announced the receipt of a $15 million letter of credit from Morgan Stanley, enabling long-term maturity date extensions for its term loan and preferred equity. The extension unlocks at least $20 million of additional growth working capital, empowering the company to sustain and accelerate its strong growth trajectory.

Company Information

Company

Mondee Holdings

Location

Austin, Texas, United States

About

Established in 2011, Mondee is a travel technology company and a modern travel marketplace with its headquarters based in Austin, Texas. The company operates 17 offices across the United States and Canada and has core operations in India, Thailand, and Greece. Mondee is driving change in the leisure and corporate travel sectors through its broad array of innovative solutions. Available both as an app and through the web, the company’s platform processes over 50 million daily searches and generates a substantial transactional volume annually. Mondee Marketplace includes access to Abhi, the most powerful and only fully-integrated A.I. travel planning assistant in the market. Its network includes approximately 65,000 leisure travel advisors, freelancers and influencers, 500+ airlines, and over one million hotels and vacation rentals, 30K rental car pickup locations, 50+ cruise lines. The company also offers packaged solutions and ancillary offerings that serve a global customer base. For more about Mondee, please visit: mondee.com.

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