Sabre Corporation Announces Offering of $1.1 Billion Senior Secured Notes
Sabre Corporation has announced a planned offering by its subsidiary Sabre Financial Borrower, LLC of up to $1.1 billion in senior secured notes. The offering is subject to market conditions and other factors, with no guarantee that it will proceed as outlined or at all. If completed, the Secured Notes would be fully guaranteed on a secured basis by several subsidiaries within the company's structure, including Sabre Financing Holdings LLC and certain foreign entities up to $400 million. The proceeds from this offering are intended for an intercompany loan that will prepay existing debt between Sabre Financial and another subsidiary. The funds received from such repayment would then be used to repay or repurchase some of Sabre Financial's current indebtedness, including through a tender offer related to its 11.125% senior secured notes due in 2029. The offering will take place as a private placement under exemptions provided by the Securities Act and is not registered with any securities regulatory body.
