Sabre increases senior secured term loan facility to $700M, adds $35M extended commitment

Sabre Corp

Term loan facility increased from $665M to $700M; $35M available as Extended Term Loan Commitments.
Interest rate: floating based on average highest yield of outstanding third-party debt plus 25 bps cash / 175 bps PIK.
Prepayment premiums: make-whole before 2nd anniversary; 25% of interest margin between 2nd and 3rd anniversary.
Proceeds to fund intercompany New Pari 1L Facility and to repurchase existing senior secured notes.
Lenders: Centerbridge, Oaktree, Oak Hill, JPMorgan; Amendment dated June 7, 2023.

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 amended Amendment with lenders led by affiliates of Centerbridge Partners, L.P. valued at $700 million (effective 2023-06-07).

Action: amendment
Agreement: credit facility
Counterparty: lenders led by affiliates of Centerbridge Partners, L.P.
Value: $700 million
Effective: 2023-06-07

Exact text from the filing

On June 7, 2023, Sabre GLBL, Inc. (“Sabre GLBL”), a wholly-owned subsidiary of Sabre Corporation, entered into an amendment (the “Amendment”) to the commitment letter, dated May 25, 2023 (the “Commitment Letter”), with lenders led by affiliates of Centerbridge Partners, L.P. (such lenders collectively, the “Lenders”).

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Source: SEC EDGAR

accession 0001193125-23-163063

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