SOUTHLAKE, Texas, July 18, 2016 /PRNewswire/ -- Sabre
Corporation ("Sabre" or the "Company") (Nasdaq: SABR) today
announced the closing of an incremental revolving credit facility
and an incremental term loan credit facility. The
$400 million revolver ("New
Revolver") replaces the Company's existing $405 million revolving credit facilities, and the
proceeds of the $600 million
incremental Term Loan A facility ("Term Loan A Facility") were
applied to pay down $470 million of
existing and outstanding revolving loans and Term Loan B loans
under the Company's existing senior secured term loan credit
facility (the "Credit Facility"). The New Revolver and the
Term Loan A Facility mature on July 18,
2021, subject to an earlier springing maturity of
November 19, 2018 in the event the
existing Term Loan B facility has not been refinanced by
November 19, 2018.
The Company's credit agreement was amended to permit the New
Revolver and Term Loan A Facility, as well as to authorize the
Company and its subsidiaries to enter into various intercompany
business transactions.
Bank of America Merrill Lynch, Goldman Sachs Bank USA, JP Morgan Chase Bank, N.A., Mizuho Bank, Ltd., Morgan Stanley MUFG Loan
Partners, LLC (acting through The Bank of Tokyo-Mitsubishi UFJ,
Ltd. and Morgan Stanley Senior Funding, Inc.), Natixis,
New York Branch, and Wells Fargo
Securities, LLC acted as joint lead arrangers and joint bookrunners
for the transaction. Bank of America Merrill Lynch is the
administrative agent and collateral agent for the Credit Facility
under which the incremental New Revolver and the incremental Term
Loan A Facility were extended and borrowed.
About Sabre Corporation
Sabre Corporation is the leading technology provider to the
global travel industry. Sabre's software, data, mobile and
distribution solutions are used by hundreds of airlines and
thousands of hotel properties to manage critical operations,
including passenger and guest reservations, revenue management,
flight, network and crew management. Sabre also operates a leading
global travel marketplace, which processes more than $120 billion of global travel spend annually by
connecting travel buyers and suppliers. Headquartered in
Southlake, Texas, USA, Sabre
serves customers in more than 160 countries around the world.
Cautionary Note Regarding Forward-Looking Statements
Any statements in this release regarding Sabre that are not
historical or current facts are forward-looking statements. Such
forward-looking statements convey Sabre's current expectations or
forecasts of future events. Forward-looking statements regarding
Sabre 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. Certain of these risks and
uncertainties are described in Sabre's annual report on Form
10-K for the year ended December 31,
2015 and its quarterly report on Form 10-Q for the period
ended March 31, 2016, including those
described in Sabre's annual report under the headings "Risk
Factors" and "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 of this press release.
SABR-F
Contacts:
Media
Tim
Enstice
+1-682-605-6162
tim.enstice@sabre.com
Investors
Barry
Sievert
sabre.investorrelations@sabre.com
Logo -
http://photos.prnewswire.com/prnh/20131216/DA33636LOGO-b
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sabre-corporation-announces-closing-of-incremental-revolver-incremental-term-loan-and-amendments-to-its-credit-facilities-300300190.html
SOURCE Sabre Corporation