#USA #Sabre Corporation #Sabre GLBL #Senior Secured Notes #Southlake

Sabre Corporation Upsizes Senior Secured Notes Offering

Sabre Corporation, recognized for its leadership in travel technology, announces that its wholly-owned subsidiary, Sabre GLBL Inc., has priced an upsized offering of Senior Secured Notes totaling $1.325 billion, superseding the original amount of $975 million. This financial maneuver not only reflects Sabre's robust market position but also enhances its capacity to tackle upcoming challenges and opportunities in the travel sector.

Key Details of the Offering

The newly issued 11.125% Senior Secured Notes, which are set to mature on July 15, 2030, will provide semi-annual interest payments at the stated rate. The offering is scheduled to close on June 4, 2025, contingent upon standard closing conditions. These notes will be secured against significantly all assets of Sabre GLBL, ensuring a solid backing for investors.

In an effort to maintain its financial flexibility, Sabre intends to utilize a portion of the net proceeds from this offering to prepay outstanding loans under a specific intercompany agreement. This includes the full prepayment of a senior secured term loan scheduled to mature in 2028, thus streamlining its liabilities and reducing future financial burdens.

Furthermore, Sabre GLBL plans to initiate tender offers for certain existing senior secured notes, setting a maximum purchase amount of $336.375 million. This strategic decision aims to further optimize the company’s capital structure and improve overall financial health.

Offering Structure and Regulatory Compliance

The Secured Notes and the associated guarantees are being offered in a private placement to qualifying institutional buyers in accordance with Rule 144A of the Securities Act of 1933, and to non-U.S. parties in line with Regulation S. Importantly, the offering has not been registered under the Securities Act or applicable state laws, marking it as a private transaction. Thus, these notes will not be publicly available for purchase in the United States without meeting the necessary regulatory requirements.

This offering, while significant, does not constitute a direct solicitation or offer to buy or sell these securities in jurisdictions where such an action would be illegal. Interested parties are encouraged to review the detailed Offer to Purchase documentation for comprehensive information regarding the tender offers.

About Sabre Corporation

Headquartered in Southlake, Texas, Sabre Corporation stands at the forefront of technology within the travel industry. The company leverages innovation and expertise to empower a vast network of airlines, hoteliers, travel agencies, and partners, facilitating the distribution and fulfillment of travel across over 160 countries.

As a major player striving to meet the evolving demands of the travel sector, Sabre is committed to building the technology of tomorrow, ensuring operational efficiency, and delivering enhanced customer experiences.

Looking Ahead

While the upsize of this offering positions Sabre for future engagements, it's essential to note that the accompanying forward-looking statements about the offering's completion and its implications remain subject to various risks and uncertainties. Stakeholders and potential investors are urged to approach this news with an understanding of the inherent market variabilities.

For more detailed insights into Sabre’s financial management strategies and future directives, continuous monitoring of commodity announcements and updates from Sabre Corporation is advised.