Sabre announces Term Loan B refinancing



Sabre Corporation (NASDAQ: SABR) has announced the refinancing of its Term Loan B credit facility, resulting in a reduction of its interest rate. Sabre incurred no additional indebtedness as a result of the refinancing, the company said.

The refinancing included the application of the proceeds of the approximately USD 1.88 billion replacement Term Loan B facility (“Replacement Term Loan B Facility”) to pay down in full approximately USD 1.88 billion of the existing Term Loan B incurred prior to March 2, 2018 under the company´s existing senior secured term loan credit facility (the “Credit Facility”). The Replacement Term Loan B Facility matures on February 22, 2024.

Merrill Lynch, Pierce, Fenner & Smith Incorporated (together with its designated affiliates), Goldman Sachs Bank USA, JP Morgan Chase Bank, N.A., Mizuho Bank, Ltd., Morgan Stanley MUFG Loan Partners, LLC, acting through The Bank of Tokyo-Mitsubishi UFJ, Ltd., a member of MUFG, a global financial group and Morgan Stanley Senior Funding, Inc., PNC Bank, National Association and Wells Fargo Securities, LLC acted as joint lead arrangers and joint bookrunners for the transactions. Bank of America, N.A. is the administrative agent and collateral agent for the Credit Facility under which the Replacement Term Loan B Facility was borrowed.

Sabre Corporation is the technology provider to the global travel industry. Sabre´s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management. Sabre also operates a global travel marketplace, which processes more than USUSD 120 billion of global travel spend annually by connecting travel buyers and suppliers. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world.