SOUTHLAKE, Texas, Aug. 18, 2020 /PRNewswire/ -- Sabre Corporation
("Sabre") (Nasdaq: SABR) today announced registered public
offerings (the "Offerings") of (1) $250,000,000 of mandatory convertible preferred
stock (or $287,500,000 if the
underwriters fully exercise their overallotment option to purchase
additional shares) and (2) $250,000,000 of common stock (or $287,500,000 if the underwriters fully exercise
their option to purchase additional shares). The precise
timing, size and terms of the offerings are subject to market
conditions and other factors. The net proceeds from the
Offerings will be used for general corporate purposes. The
completion of each Offering is not contingent on the consummation
of the other Offering.
Each share of preferred stock is expected to have a liquidation
preference of $100.00 per share.
Unless earlier converted, each share of preferred stock will
automatically convert into a variable number of shares of Sabre's
common stock on the mandatory conversion date, which is expected to
be September 1, 2023. The dividend
rate and the conversion terms of the preferred stock will be
determined by negotiations between Sabre and the underwriters.
Morgan Stanley and BofA Securities are acting as lead
bookrunners for the Offerings; Goldman Sachs & Co. LLC, Mizuho
Securities, Wells Fargo Securities, Deutsche Bank Securities and
Citigroup are acting as bookrunners. PNC Capital Markets LLC, MUFG,
TPG Capital BD, LLC and ING are acting as co-managers for the
Offerings. A shelf registration statement and a post-effective
amendment thereto relating to these securities has been filed with
the U.S. Securities and Exchange Commission ("SEC") and has become
effective. Each of the Offerings may be made only by means of a
prospectus supplement and an accompanying base prospectus. A base
prospectus was filed with the registration statement and a
preliminary prospectus supplement relating to each of the Offerings
will be filed with the SEC and will be available on the SEC's
website at www.sec.gov. Copies of the preliminary prospectus
supplement and accompanying base prospectus relating to the
offerings may be obtained from Morgan Stanley & Co. LLC, 180
Varick Street, 2nd Floor, New York,
NY 10014, Attention: Prospectus Department and BofA
Securities, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte NC 28255-0001, Attn: Prospectus Department, Email:
dg.prospectus_requests@bofa.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of preferred stock or shares
of common stock or any other security and shall not constitute an
offer, solicitation or sale in any jurisdiction in which, or to any
persons to whom, such offering, solicitation or sale would be
unlawful.
About Sabre Corporation
Sabre Corporation is a leading software and technology company
that powers the global travel industry, serving a wide range of
travel companies including airlines, hoteliers, travel agencies and
other suppliers. The company provides retailing, distribution and
fulfilment solutions that help its customers operate more
efficiently, drive revenue and offer personalized traveler
experiences.
Forward-Looking Statements
Certain statements herein are forward-looking statements about
trends, future events, uncertainties and our plans and expectations
of what may happen in the future. Any statements that are not
historical or current facts are forward-looking statements. In many
cases, you can identify forward-looking statements by terms such as
"believe," "could," "likely," "expect," "plan," "commit,"
"guidance," "outlook," "anticipate," "will," "incremental,"
"preliminary," "forecast," "continue," "strategy," "confidence,"
"momentum," "estimate," "objective," "project," "may," "should,"
"would," "intend," "potential" or the negative of these terms or
other comparable terminology. Forward-looking statements involve
known and unknown risks, uncertainties and other factors that may
cause Sabre's actual results, performance or achievements to be
materially different from any future results, performances or
achievements expressed or implied by the forward-looking
statements. More information about potential risks and
uncertainties that could affect our business and results of
operations is included in the "Risk Factors" and "Forward-Looking
Statements" sections in our Annual Report on Form 10-K filed with
the SEC on February 26, 2020, our
Quarterly Reports on Form 10-Q filed with the SEC on May 8, 2020 and August 10,
2020 and in our other filings with the SEC. Although we
believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future events,
outlook, guidance, results, actions, levels of activity,
performance or achievements. Readers are cautioned not to place
undue reliance on these forward-looking statements. Unless required
by law, Sabre undertakes no obligation to publicly update or revise
any forward-looking statements to reflect circumstances or events
after the date they are made.
SABR-F
Contacts:
Media:
Kristin Hays
kristin.hays@sabre.com
sabrenews@sabre.com
Investors:
Kevin Crissey
kevin.crissey@sabre.com
sabre.investorrelations@sabre.com
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SOURCE Sabre Corporation