Sabre To Raise $535M Via Institutional Senior Note Offering For Debt Repayment

• Sabre Corp (NASDAQ: SABR) subsidiary Sabre GLBL Inc proposed raising $535 million via a private institutional senior secured note offering.

• The Secured Notes and the note guarantees will be secured, subject to permitted liens, by a first-priority security interest in substantially all present and hereafter acquired property and assets of Sabre GLBL and the guarantors.

• Also Read: Sabre Shares Drop On Q3 Consensus Miss; Expects To Be FCF Positive Next Year & Annually Thereafter

• The Secured Notes will be guaranteed by Sabre Holdings Corporation and each subsidiary that borrows under or guarantees Sabre GLBL's senior secured credit facility.

• The net proceeds from the sales of the Secured Notes, along with cash on hand, will be used to repay $536 million aggregate principal debt under Sabre's Term Loan B (scheduled to mature in 2024).

• Sabre held $4.72 billion in long-term debt as of September 30.

• Sabre held $803.8 million in cash and equivalents.

• Price Action: SABR shares closed lower by 2.31% at $5.07 on Friday.

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