---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-042021"
form_type: "8-K"
ticker: "SABR"
cik: "0001597033"
company_name: "Sabre Corp"
filed_at: "2023-02-17T23:59:59+00:00"
generated_at: "2026-06-19T08:02:10.410220+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Sabre Corp subsidiary enters $200M AR securitization facility with PNC Bank

## Summary
- Sabre Securitization LLC, indirect subsidiary, entered three-year committed AR facility of up to $200M with PNC Bank.
- Borrowings bear interest at SOFR plus 225 bps drawn fee; fee varies based on Sabre's leverage.
- Facility secured by substantially all accounts receivable of certain Sabre subsidiaries sold to the SPE.
- Facility scheduled to terminate in February 2026; proceeds used to finance receivables purchases.
- Initial borrowing subject to conditions including sale agreements and delivery of legal opinions.

## SEC filing metadata
- accession: 0001193125-23-042021
- form_type: 8-K
- ticker: SABR
- cik: 0001597033
- company_name: Sabre Corp
- filed_at: 2023-02-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1597033/000119312523042021/0001193125-23-042021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1597033/000119312523042021/d451065d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-042021
- JSON: https://secwatch.observer/filing/0001193125-23-042021.json
- Plain text: https://secwatch.observer/filing/0001193125-23-042021.txt

## Key facts
- Debt Financings
  Sabre Corp incurred credit facility of up to $200 million with PNC Bank, N.A. at SOFR plus a drawn fee initially in the amount of 225 bps maturing February 2026.
  - Instrument: credit facility
  - Principal: up to $200 million
  - Counterparty: PNC Bank, N.A.
  - Rate: SOFR plus a drawn fee initially in the amount of 225 bps
  - Maturity: February 2026
  - Event: incurrence
  source text: On February 14, 2023 (the “Closing Date”), Sabre Securitization, LLC, a special purpose entity (the “SPE”) that is an indirect subsidiary of Sabre Corporation (“Sabre” or the “Company”), entered into a three-year committed accounts receivable securitization facility (the “AR Facility”) of up to $200 million with PNC Bank, N.A., as administrative agent (the “Administrative Agent”), structuring agent and lender.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1597033/000119312523042021/0001193125-23-042021-index.htm
- Material Agreements
  Sabre Corp entered into Receivables Financing Agreement with PNC Bank, N.A. valued at up to $200 million (effective 2023-02-14).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: PNC Bank, N.A.
  - Value: up to $200 million
  - Effective: 2023-02-14
  source text: On February 14, 2023 (the “Closing Date”), Sabre Securitization, LLC, a special purpose entity (the “SPE”) that is an indirect subsidiary of Sabre Corporation (“Sabre” or the “Company”), entered into a three-year committed accounts receivable securitization facility (the “AR Facility”) of up to $200 million with PNC Bank, N.A., as administrative agent (the “Administrative Agent”), structuring agent and lender.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1597033/000119312523042021/0001193125-23-042021-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.