---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-088020"
form_type: "8-K"
ticker: "SABR"
cik: "0001597033"
company_name: "Sabre Corp"
filed_at: "2023-03-31T23:59:59+00:00"
generated_at: "2026-06-17T07:53:15.052299+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-088020
- form_type: 8-K
- ticker: SABR
- cik: 0001597033
- company_name: Sabre Corp
- filed_at: 2023-03-31T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1597033/000119312523088020/0001193125-23-088020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1597033/000119312523088020/d490456d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-088020
- JSON: https://secwatch.observer/filing/0001193125-23-088020.json
- Plain text: https://secwatch.observer/filing/0001193125-23-088020.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1597033/000119312523088020/0001193125-23-088020-index.htm

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