SOUTHLAKE, Texas, Aug. 21, 2020 /PRNewswire/ -- Sabre
Corporation ("Sabre") (Nasdaq: SABR) today
announced that its wholly-owned subsidiary Sabre GLBL
Inc. ("Sabre GLBL") upsized and priced an offering
of $850,000,000 aggregate principal amount of its 7.375%
senior secured notes due 2025 (the "Secured Notes"), an upsize
of $550,000,000 over the amount
previously announced. The sale of the Secured Notes is expected to
close on August 27, 2020, subject to customary closing
conditions.
Sabre intends to use the net proceeds from this
offering, after fees, discounts, commissions and other offering
expenses, plus cash on hand, to (1) repay approximately
$300 million principal amount of debt
under its Term Loan A (scheduled to mature in
July 2022), (2) redeem, repurchase or
refinance all $530 million aggregate
principal amount outstanding of its outstanding 5.375% senior
secured notes due 2023 (scheduled to mature in April, 2023)
and (3) repay other secured indebtedness. This news release
does not constitute a notice of redemption with respect to the
April 2023 Notes.
The Secured Notes will pay interest semi-annually in arrears, at
a rate of 7.375% per year, and will mature on September 1, 2025. 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 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 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
"believe," "could," "likely," "expect," "plan," "commit,"
"guidance," "outlook," "anticipate," "will," "incremental,"
"preliminary," "forecast," "continue," "strategy," "confidence,"
"momentum," "estimate," "objective," "project," "may," "should,"
"would," "intend," "potential" or the negative of these terms or
other comparable terminology. 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 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 26, 2020, our
Quarterly Reports on Form 10-Q filed with the SEC on May 8, 2020 and August 10,
2020 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
View original content to download
multimedia:http://www.prnewswire.com/news-releases/sabre-corporation-announces-upsizing-and-pricing-of-senior-secured-notes-offering-301116178.html
SOURCE Sabre Corporation