Sabre Corp enters $200M AR securitization with PNC Bank; initial draw $115M

Sabre Corp

Three-year committed AR facility of up to $200M with PNC Bank as administrative agent.
Initial borrowings of $115M drawn on March 30, 2023; proceeds support working capital.
Sabre subsidiaries sold/contributed receivables to special-purpose entity Sabre Securitization, LLC.
Facility structured as true sale; SPE assets not available to Sabre's other creditors.
Exact borrowings outstanding not publicly updated unless required by law.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sabre Corp entered into Sale and Contribution Agreements with SPE valued at $200 million (effective 2023-02-14).

Action: entry
Agreement: credit facility
Counterparty: SPE
Value: $200 million
Effective: 2023-02-14

Exact text from the filing

on February 14, 2023, 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.

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Source: SEC EDGAR

accession 0001193125-23-088020

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