2023-05-25 09:04:49 ET
- Sabre ( NASDAQ: SABR ) intends refinancing to proactively manage and extend the maturity profile of its debt.
- Sabre GLBL, a wholly-owned subsidiary, enters a commitment letter led by affiliates of Centerbridge Partners for a $665M new senior secured credit facility to Sabre Financial Borrower- a newly created wholly-owned subsidiary of Sabre GLBL.
- The new facility will be secured by an intercompany loan by the borrower to Sabre GLBL, as further described below, and will receive direct guarantees from, and security interest in assets of, certain foreign subsidiaries of Sabre.
- It commences tender offers to purchase for cash certain outstanding secured debt with proceeds from the new facility.
- The tender offers will expire on June 26, 2023.
- The stock price is up 2.8% during pre-market.
For further details see:
Sabre commits $665M financing for existing debt