Sabre Corporation, a technology company specializing in travel solutions, has announced the pricing and upsize of its senior secured notes offering. The offering by its wholly-owned subsidiary, Sabre GLBL Inc., has been upsized to $1,325,000,000 from the initial $975,000,000. The 11.125% senior secured notes due 2030 will pay interest semi-annually at a rate of 11.125% per year and are expected to mature on July 15, 2030.
The offering is set to close on June 4, 2025, subject to customary closing conditions. The notes will be guaranteed by Sabre Holdings Corporation and certain subsidiaries, with a first-priority security interest in substantially all property and assets of Sabre GLBL and the guarantors, subject to permitted liens.
Sabre plans to utilize a portion of the net proceeds to prepay its outstanding borrowings under an intercompany loan agreement and intends to use the remaining amounts for various purposes, including prepaying, redeeming, or repurchasing other indebtedness.
The secured notes and the related note guarantees have been offered in a private offering to qualified institutional buyers and non-U.S. persons. It's important to note that these securities have not been registered under the securities act and applicable state securities laws.
Sabre Corporation, headquartered in Southlake, Texas, is known for its role in empowering airlines, hoteliers, agencies, and other partners in the travel industry. With employees across the world, Sabre serves customers in more than 160 countries globally. As a result of these announcements, the company's shares have moved 3.73% on the market, and are now trading at a price of $2.64. For the full picture, make sure to review Sabre Corp's 8-K report.
