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 (Sabre Financial). The secured notes will be guaranteed jointly and severally on a secured basis by Sabre Financing Holdings LLC (Sabre Financing) and certain of Sabre's existing and future foreign subsidiaries.
The gross proceeds from the sale of the secured notes will be used to fund an intercompany loan to Sabre GLBL, Inc. (Sabre GLBL). Sabre GLBL intends to use the proceeds to prepay, redeem, repurchase, or extend certain of its existing indebtedness and to pay related accrued and unpaid interest, premium, fees, and expenses.
The secured notes and the related note guarantees will be offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and 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.
These developments come as Sabre Corporation continues to navigate the complexities and opportunities within the travel industry. The market has reacted to these announcements by moving the company's shares 2.23% to a price of $1.605. For more information, read the company's full 8-K submission here.
