Orbitz Worldwide announced it secured new $450 million senior secured term loans consisting of a $150 million Tranche B term loan maturing in September 2017 and a $300 million Tranche C term loan maturing in March 2019. Credit Suisse AG served as administrative agent, collateral agent, L/C issuer and swing line lender.

A portion of the net proceeds from the term loans, together with cash from the company’s balance sheet, was used to refinance $415 million of existing debt, which was scheduled to mature in July 2014, and $50 million are to be used to cash collateralize letters of credit.

The company also secured a new $65 million revolving credit facility replacing its $72.5 million revolving credit facility, which was scheduled to mature in July 2013. The revolving credit facility will be used for general corporate purposes.

Orbitz Worldwide is a global online travel company that uses innovative technology to enable leisure and business travelers to search for, plan and book a broad range of travel products and services.