SOUTHLAKE, Texas, March 9, 2022 /PRNewswire/ -- Sabre
Corporation ("Sabre") (Nasdaq: SABR) today announced a refinancing
of a portion of its existing indebtedness. Sabre incurred no
additional indebtedness as a result of the refinancing above the
refinanced amount, other than amounts covering certain interest,
fees and expenses. The refinancing has meaningfully improved
Sabre's debt maturity profile.
The refinancing included the application of the proceeds of a
new $625 million term loan "B"
facility (the "New Facility"), borrowed by its wholly-owned
subsidiary Sabre GLBL Inc. ("Sabre GLBL") under its existing senior
secured credit agreement (the "Credit Agreement"), with the effect
of extending the maturity of approximately $623 million of the existing Term Loan B credit
facility incurred prior to March 9,
2022 under the Credit Agreement. The New Facility
matures on June 30, 2028 and offers
Sabre the ability to prepay or repay the New Facility after 12
months or to prepay or repay at a 101 premium before that
date. The interest rates on the New Facility will be based on
Term SOFR, replacing LIBOR, plus an applicable margin.
The New Facility is guaranteed by Sabre Holdings
Corporation and each subsidiary of Sabre GLBL that guarantees the
Credit Agreement. The New Facility and the
guarantees thereof are secured, subject to permitted
liens, by a first-priority security interest in the same
collateral that secures Sabre GLBL's other senior secured
indebtedness, which is substantially all present and
hereafter acquired property and assets of Sabre GLBL and the
guarantors (other than certain excluded assets).
BofA Securities, Inc., Citibank N.A., Goldman Sachs Bank
USA, Mizuho Bank, Ltd., MUFG Bank Ltd and Wells Fargo
Securities, LLC acted as joint bookrunners and BofA Securities,
Inc. acted as sole lead arranger. Bank of America, N.A. is
the administrative agent and the collateral agent for the Credit
Agreement.
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
fulfillment solutions that help its customers operate more
efficiently, drive revenue and offer personalized traveler
experiences. Through its leading travel marketplace, Sabre connects
travel suppliers with buyers from around the globe. Sabre's
technology platform manages more than $260B worth of global travel spend annually.
Headquartered in Southlake, Texas,
USA, Sabre serves customers in more than 160 countries around the
world.
Forward-Looking Statements 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 18, 2022 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