European OTA eDreams ODIGEO is to redeem €10 million in debt.
The redemption is being made as part of a broader plan to “deleverage and manage” its overall level of debt.
This started last year with the repurchase of €30 million principal amount of its former 2018 notes.
“Today’s announcement reflects the group’s commitment to continue to deliver on this strategy ensuring that throughout the year it maintains sufficient flexibility to invest in the business to continue driving growth and innovation, and for the potential opportunity to redeem future debt,” the company said.
eDreams ODIGEO cash seasonality results in most cash being generated between January and March.
“Once we reach the high season in terms of cash generation the group will continue to execute on its financial strategy,” the company added.
The firm operates four OTA brands – eDreams, GO Voyages, Opodo, Travellink – and metasearch engine Liligo.