UPDATE 2-Travelport Worldwide files for IPO of up to $100 mln

Wed Jun 4, 2014 10:09am EDT

* Blackstone-controlled Travelport Worldwide files for IPO

* Lists Morgan Stanley and UBS as lead underwriters

* To use proceeds from offering to repay debt (Adds background, details from filing)

June 4 (Reuters) - Airline ticketing company Travelport Worldwide Ltd, controlled by private equity firm Blackstone Group LP, filed with U.S. regulators on Wednesday to raise up to $100 million in an initial public offering of common stock.

The Atlanta, Georgia-based company listed Morgan Stanley and UBS Securities as lead underwriters for the offering. (r.reuters.com/ted89v)

Travelport Worldwide, which has about a 37 percent stake in global online travel company Orbitz Worldwide Inc, intends to list its common stock under the symbol "TVPT".

The company counts TCV Funds and Morgan Stanley Funds among its shareholders and said it intended to use the proceeds from the offering for to repay debt. The company had about $3.4 billion in debt as of March 31.

Travelport Worldwide competes with travel distributors such as Abacus and Amadeus, and business booking travel sites such as eTravel and Egencia.

The company reported a bigger net loss of $27 million for the three months ended March 31, compared with $22 million a year earlier. Net revenue rose 4 percent to $572 million in the period.

Travelport Worldwide called off its $1.78 billion London listing in 2010, citing poor market conditions. (link.reuters.com/fud89v)

The filing did not reveal how many shares the company planned to sell or the exchange it planned to list on.

Blackstone and Technology Crossover Ventures (TCV) bought Travelport for $4.3 billion from conglomerate Cendant in 2006.

Shares of Sabre Corp, the airline ticketing technology provider that also owns online travel agency Travelocity, rose as much as 7 percent in their market debut in April.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different. (Reporting By Neha Dimri in Bangalore; Editing by Ted Kerr and Simon Jennings)

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