Sabre Corporation Announces Offering of Senior Secured Notes
Sabre Corporation launched a private offering of $1.1 billion in senior secured notes through its wholly owned indirect subsidiary Sabre Financial Borrower, LLC, with timing, size and terms subject to market conditions. Gross proceeds will fund a new intercompany loan to Sabre GLBL, and the resulting cash will flow back to Sabre Financial to prepay, redeem or repurchase existing debt, including a concurrently announced tender offer and consent solicitation for its 11.125% senior secured notes due 2029. The notes are being offered only to qualified institutional buyers under Rule 144A and non-U.S.
Key figures
- Deal Value Usd
- 1100000000
- Offering type
- Rule 144A / Regulation S private placement
- Principal amount
- 1100000000
- Legacy notes coupon
- 11.125%
- Foreign guarantor cap
- $400 million
- Legacy notes maturity
- 2029
AI analysis
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