Sabre Corporation (NASDAQ: SABR) has announced an offering of $1,000,000,000 aggregate principal amount of senior secured notes by its wholly-owned subsidiary, Sabre Financial Borrower, LLC. The offering, subject to market conditions and other factors, will be guaranteed by Sabre Financing Holdings LLC and certain of Sabre's existing and future foreign subsidiaries.
The gross proceeds from the sale of the secured notes will be utilized to fund an intercompany loan to Sabre GLBL, Inc., which intends to use the proceeds, together with cash on hand, to prepay, redeem, repurchase, or extend certain of its existing indebtedness. This includes the refinancing of certain term loans and offers to exchange existing secured notes.
The secured notes and the related note guarantees will be offered in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as well as to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act.
Sabre Corporation, headquartered in Southlake, Texas, is a leading technology company in the travel industry, serving customers in more than 160 countries globally.
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 will be made only by means of a private offering circular. As a result of these announcements, the company's shares have moved 3.82% on the market, and are now trading at a price of $1.63. If you want to know more, read the company's complete 8-K report here.
