Sabre Corporation Announces Upsize and Pricing of Senior Secured Notes Offering

Core Viewpoint - Sabre Corporation has announced an upsized offering of $1,325,000,000 in Senior Secured Notes, increasing from an initial $975,000,000, with a maturity date set for July 15, 2030 and an interest rate of 11.125% [1][2]. Group 1: Offering Details - The Senior Secured Notes will pay interest semi-annually and are guaranteed by Sabre Holdings Corporation and its subsidiaries [2]. - The offering is expected to close on June 4, 2025, subject to customary closing conditions [1]. - The Secured Notes will be secured by a first-priority security interest in substantially all property and assets of Sabre GLBL and the guarantors [2]. Group 2: Use of Proceeds - A portion of the net proceeds will be used to prepay outstanding borrowings under an intercompany loan agreement, specifically targeting a senior secured term loan due in 2028 [3]. - Remaining proceeds will be utilized to prepay, redeem, or repurchase other indebtedness through various methods, including tender offers [3]. Group 3: Tender Offers - Sabre GLBL plans to launch tender offers for certain existing senior secured notes, with a maximum aggregate purchase amount of $336,375,000 [3]. - The details of the Tender Offers will be included in the offers to purchase dated May 20, 2025 [6]. Group 4: Company Overview - Sabre Corporation is a leading technology company focused on the travel industry, providing solutions for airlines, hoteliers, and travel agencies [7]. - The company is headquartered in Southlake, Texas, and serves customers in over 160 countries globally [7].