SOUTHLAKE, Texas, Nov. 21,
2022 /PRNewswire/ -- Sabre Corporation ("Sabre")
(Nasdaq: SABR) today announced that its wholly-owned subsidiary
Sabre GLBL Inc. ("Sabre GLBL") upsized and priced an offering of
$555,000,000 aggregate principal
amount of 11.250% senior secured notes due 2027 (the "Secured
Notes"), an upsize of $20,000,000
over the amount previously announced. The sale of the Secured Notes
is expected to close on December 6,
2022, subject to customary closing conditions.
The Secured Notes will pay interest semi-annually in arrears, at
a rate of 11.250% per year, and will mature on December 15, 2027. The Secured Notes will be
guaranteed by Sabre Holdings Corporation and each subsidiary that
borrows under or guarantees Sabre GLBL's senior secured credit
facility. The Secured Notes and the note guarantees will be
secured, subject to permitted liens, by a first-priority security
interest in substantially all present and hereafter acquired
property and assets of Sabre GLBL and the guarantors (other than
certain excluded assets).
The net proceeds from the sales of the Secured Notes will be
used for the repayment of approximately $536
million aggregate principal amount of debt under Sabre's
Term Loan B (scheduled to mature in 2024), plus accrued and unpaid
interest and related fees and expenses. Sabre will incur no
additional indebtedness in connection with the issuance of the
Senior Notes, other than amounts covering the original issue
discount (OID) and such interest, fees and expenses.
The Secured Notes and the related note guarantees have been
offered in a private offering to persons reasonably believed to be
qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act") and to
non-U.S. persons outside the United
States in accordance with Regulation S under the Securities
Act. The Secured Notes and the related note guarantees have not
been, and will not be, registered under the Securities Act or any
state securities laws. The Secured Notes and the related note
guarantees may not be offered or sold in the United States or to, or for the benefit
of, U.S. persons absent registration under, or an applicable
exemption from, the registration requirements of the Securities Act
and applicable state securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Secured Notes 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. Any offers of the
Secured Notes were made only by means of a private offering
circular. This press release is being issued pursuant to and in
accordance with Rule 135c under the Securities Act.
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
"expect," "believe," "likely," "encouraged," "resilient,"
"outlook," "goal," "opportunity," "target," "future," "trend,"
"plan," "guidance," "anticipate," "will," "forecast," "continue,"
"on track," "objective," "trajectory," "scenario", "strategy,"
"estimate," "project," "possible," "may," "should," "would,"
"intend," "potential," or the negative of these terms or other
comparable terminology, including statements regarding the
completion of the potential offering and the use of related
proceeds. 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
materially 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, our Quarterly
Report on Form 10-Q filed with the SEC on November 2, 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