Sabre Corporation Announces Upsizing and Pricing of Senior Secured Notes Offering

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[{"type":"text","content":"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.\nThe 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).\nThe 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.\nThe 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.\nThis press release does not constitute an offer...

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