Priceline.com plans $500M notes sale

By Mass High Tech staff

Video Gallery

Online video firms target small video publishing companies

MHT's Galen Moore: New 'hyperlocal' web trend

Map of New England mapping companies

Spin Transfer whips up $36M in first round [February 13, 2012]

Oxford Immunotec taps Altieri as CFO [February 13, 2012]

SeraCare selling to Linden for $82M [February 13, 2012]

UtiliData finds more funding from Braemer [February 13, 2012]

Priceline.com Inc., the Norwalk, Conn.-based online travel service comparison platform, has announced a private offering of up to $500 million in convertible senior notes due 2015.

The institutional buyers that qualify for the offering may convert the notes into cash up to the principal amount and/or shares of priceline.com common stock. According to a press release from the company, proceeds from the private offering will be used to repurchase up to $100 million of outstanding common stock.

Founded in 1997, Priceline.com (Nasdaq:PCLN) enables U.S. online customers to buy reservations for hotel rooms, airline tickets, car rentals, cruises and vacation packages; for international customers, the company offers online hotel room reservations. Company subsidiaries include Lowestfare.com LLC and Travelweb LLC.

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.