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-0.0047846889952153 -0.00558213716108455 -0.00332270069112174 0.00372142477405637 0.0151515151515152 0.0352206273258904 0.0259170653907494 0.0272461456671983
Stock impact report

Expedia is raising $3.2 billion as travel stalls during the coronavirus pandemic [CNBC]

Apollo Global Management, Inc. (New) (APO) 
Last apollo global management, inc. (new) earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: apollo.com/shareholders/overview
Company Research Source: CNBC
ExpediaThe company is raising $1.2 billion in private placement of perpetual preferred stock and $2 billion in new debt financing. Funds managed by affiliates of Apollo Global Management and Silver Lake will provide the equity investment and will each get a spot on the company's board, according to Expedia. The funding is expected to close May 5.Expedia said it expects the new funds to strengthen its financial flexibility and liquidity position.The travel industry at large has been among the hardest hit during the Covid-19 crisis. Airports appear nearly empty and airlines and hotels alike have been forced to deal with a huge wave of cancellations.Like Expedia, Airbnb has recently raisedincluded equitystruggling to make wholeExpedia has signaled that it is already cutting back on costs. Chairman Barry Dillertold CNBC last weekSubscribe to CNBC on YouTube.WATCH: How the coronavirus pandemic disrupted the booming air travel industry Show less Read more
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