SOUTHLAKE, Texas, March 9, 2022 /PRNewswire/ — Sabre Company (“Sabre”) (Nasdaq: SABR) right this moment introduced a refinancing of a portion of its current indebtedness. Sabre incurred no extra indebtedness on account of the refinancing above the refinanced quantity, apart from quantities masking sure curiosity, charges and bills. The refinancing has meaningfully improved Sabre’s debt maturity profile.
The refinancing included the applying of the proceeds of a brand new $625 million time period mortgage “B” facility (the “New Facility”), borrowed by its wholly-owned subsidiary Sabre GLBL Inc. (“Sabre GLBL”) underneath its current senior secured credit score settlement (the “Credit score Settlement”), with the impact of extending the maturity of roughly $623 million of the prevailing Time period Mortgage B credit score facility incurred previous to March 9, 2022 underneath the Credit score Settlement. The New Facility matures on June 30, 2028 and affords Sabre the power to prepay or repay the New Facility after 12 months or to prepay or repay at a 101 premium earlier than that date. The rates of interest on the New Facility will probably be based mostly on Time period SOFR, changing LIBOR, plus an relevant margin.
The New Facility is assured by Sabre Holdings Company and every subsidiary of Sabre GLBL that ensures the Credit score Settlement. The New Facility and the ensures thereof are secured, topic to permitted liens, by a first-priority safety curiosity in the identical collateral that secures Sabre GLBL’s different senior secured indebtedness, which is considerably all current and hereafter acquired property and property of Sabre GLBL and the guarantors (apart from sure excluded property).
BofA Securities, Inc., Citibank N.A., Goldman Sachs Financial institution USA, Mizuho Financial institution, Ltd., MUFG Financial institution Ltd and Wells Fargo Securities, LLC acted as joint bookrunners and BofA Securities, Inc. acted as sole lead arranger. Financial institution of America, N.A. is the executive agent and the collateral agent for the Credit score Settlement.
About Sabre Company
Sabre Company is a number one software program and expertise firm that powers the worldwide journey trade, serving a variety of journey firms together with airways, hoteliers, journey businesses and different suppliers. The corporate gives retailing, distribution and success options that assist its prospects function extra effectively, drive income and provide customized traveler experiences. By means of its main journey market, Sabre connects journey suppliers with consumers from across the globe. Sabre’s expertise platform manages greater than $260B value of worldwide journey spend yearly. Headquartered in Southlake, Texas, USA, Sabre serves prospects in additional than 160 international locations around the globe.
Ahead-Trying Statements Statements
Sure statements herein are forward-looking statements about tendencies, future occasions, uncertainties and our plans and expectations of what could occur sooner or later. Any statements that aren’t historic or present details are forward-looking statements. In lots of instances, you may establish forward-looking statements by phrases equivalent to “consider,” “might,” “possible,” “count on,” “plan,” “commit,” “steerage,” “outlook,” “anticipate,” “will,” “incremental,” “preliminary,” “forecast,” “proceed,” “technique,” “confidence,” “momentum,” “estimate,” “goal,” “undertaking,” “could,” “ought to,” “would,” “intend,” “potential” or the adverse of those phrases or different comparable terminology. Ahead-looking statements contain recognized and unknown dangers, uncertainties and different components which will trigger Sabre’s precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, performances or achievements expressed or implied by the forward-looking statements. Extra details about potential dangers and uncertainties that might have an effect on our enterprise and outcomes of operations is included within the “Threat Components” and “Ahead-Trying Statements” sections in our Annual Report on Type 10-Okay filed with the SEC on February 18, 2022 and in our different filings with the SEC. Though we consider that the expectations mirrored within the forward-looking statements are cheap, we can’t assure future occasions, outlook, steerage, outcomes, actions, ranges of exercise, efficiency or achievements. Readers are cautioned to not place undue reliance on these forward-looking statements. Except required by regulation, Sabre undertakes no obligation to publicly replace or revise any forward-looking statements to mirror circumstances or occasions after the date they’re made.
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