SOUTHLAKE, Texas, Nov. 4, 2015 /PRNewswire/ -- Sabre
Corporation ("Sabre") (Nasdaq: SABR) today announced a proposed
offering by its wholly-owned subsidiary Sabre GLBL Inc. ("Sabre
GLBL") of $500 million aggregate
principal amount of senior secured notes due 2023 (the
"Notes"). The Notes and the related note guarantees will be
offered in a private offering to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended
(the "Securities Act") and to non-U.S. persons in accordance with
Regulation S under the Securities Act. The precise timing,
size and terms of the offering are subject to market conditions and
other factors.
The net proceeds from the sale of the Notes will be used to
redeem $235 million aggregate
principal amount of the $400 million
8.35% senior unsecured notes due 2016 issued by Sabre Holdings
Corporation, a subsidiary of Sabre and parent of Sabre GLBL, and to
pay accrued interest, premiums, fees and expenses related thereto.
The excess net proceeds will be available for general
corporate purposes, including potential acquisitions and certain
potential repurchases of shares of Sabre's common stock. The
foregoing does not constitute a notice of redemption for or an
obligation to issue a notice of redemption for our outstanding
notes.
The Notes will be guaranteed by Sabre Holdings Corporation and
each subsidiary that guarantees Sabre GLBL's senior secured credit
facility (the "Credit Facility"). The 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, which also constitutes collateral securing indebtedness
under the Credit Facility and Sabre GLBL's $530 million 5.375% senior secured notes due 2023
on a first-priority basis.
The Notes and the related note guarantees have not been
registered under the Securities Act or any state securities
laws. The Notes may not be offered or sold in the United States or to, or for the benefit
of, U.S. persons absent registration under, or an applicable
exemption from, the registration requirements of the Securities Act
and applicable state securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Notes or any other security and
shall not constitute an offer, solicitation or sale in any
jurisdiction in which, or to any persons to whom, such offering,
solicitation or sale would be unlawful. Any offers of the
Notes will be made only by means of a private offering
circular.
About Sabre Corporation
Sabre Corporation (NASDAQ: SABR) is the leading technology
provider to the global travel and tourism industry. Sabre's
software, data, mobile and distribution solutions are used by
hundreds of airlines and thousands of hotel properties to manage
critical operations, including passenger and guest reservations,
revenue management, flight, network and crew management. Sabre also
operates a leading global travel marketplace, which processes more
than $120 billion of estimated travel
spend annually by connecting travel buyers and suppliers.
Headquartered in Southlake, Texas,
USA, Sabre serves customers in more than 160 countries around the
world.
Cautionary Note Regarding Forward-Looking Statements
Any statements in this release regarding Sabre that are not
historical or current facts are forward-looking statements. Such
forward-looking statements convey Sabre's current expectations or
forecasts of future events. Forward-looking statements regarding
Sabre involve known and unknown risks, uncertainties and other
factors that may cause Sabre's actual results, performance or
achievements to be materially different from any future results,
performances or achievements expressed or implied by the
forward-looking statements. Certain of these risks and
uncertainties are described in the "Risk Factors" and
"Forward-Looking Statements" sections of Sabre's Annual Report on
Form 10-K, quarterly report on Form 10-Q for the period ended
September 30, 2015 and any of Sabre's
other applicable filings with the Securities and Exchange
Commission. Unless required by law, Sabre undertakes no obligation
to publicly update or revise any forward-looking statements to
reflect circumstances or events after the date of this press
release.
SABR-F
Contacts:
Media
Daniel Duarte
214-236-9473
Investors
Barry Sievert
682-605-0214
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SOURCE Sabre Corporation