secwatch.observer — SEC 8-K summary
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Issuer:     Sabre Corp (SABR)
CIK:        0001597033
Form:       8-K
Filed at:   2022-12-06T23:59:59+00:00
Accession:  0001193125-22-299495
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sabre issues $555M 11.250% senior secured notes due 2027 to repay Term Loan B
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- Issued $555M aggregate principal of 11.250% senior secured notes due December 15, 2027.
- Net proceeds used to repay ~$536.5M of Term Loan B plus accrued interest and fees.
- Notes are secured by first-priority liens on collateral sharing pari passu with existing secured notes and credit facility.
- Covenants limit dividends, additional debt, asset sales, etc.; suspension if investment grade rating obtained.
- Also amended bylaws to conform to SEC universal proxy rules and recent DGCL changes (procedural).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1597033/000119312522299495/0001193125-22-299495-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1597033/000119312522299495/d371069d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-299495

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