https://techcrunch.com/2020/04/23/expedia-raises-3-2b-to-ride-out-pandemic-names-new-ceo-and-announces-austerity-measures/

It’s not exactly a secret that the travel industry is in free fall right now as the pandemic has brought the industry to a screeching halt. With nobody moving, travel site Expedia announced that it has raised $3.2 billion to help ride this out.

The deal consists of two separate tranches of cash with $1.2 billion coming from private placement of perpetual preferred stock and approximately $2 billion coming from new debt financing, according to the company.