Sabre Corp. (SABR) announced that its wholly-owned subsidiary, Sabre Financial Borrower, LLC, has priced an offering of $1 billion in aggregate principal amount of 11.125% Senior Secured Notes due 2029.
The offering of the Secured Notes is expected to close on December 5, 2025, subject to customary closing conditions.
The Secured Notes will pay interest semi-annually in arrears, at a rate of 11.125% per year, and will mature on June 15, 2029. The Secured Notes will be guaranteed, jointly and severally, on a secured basis by Sabre Financing Holdings LLC, Sabre Financial's direct parent company, and, up to an amount of $400 million, certain of Sabre's existing and future foreign subsidiaries.
Sabre Financial said it will use the gross proceeds from the sale of the Secured Notes to fund an intercompany loan to Sabre GLBL, Inc. Sabre GLBL intends to use the proceeds from the intercompany loan, together with cash on hand, to prepay, redeem, repurchase or extend certain of its existing indebtedness in the open market, in privately negotiated transactions, through tender or exchange offers, or otherwise.
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