Sabre announced a USD 1.1 billion offering of senior secured notes via subsidiary Sabre Financial Borrower.
- Proceeds are earmarked to fund a new intercompany loan to Sabre GLBL, which plans to prepay an existing intercompany loan.
- Cash returned to Sabre Financial is expected to support refinancing, including actions on its 11.125% senior secured notes due 2029.
- The notes are to be guaranteed on a secured basis by Sabre Financing Holdings, with foreign subsidiary guarantees capped at USD 400 million.
- The offering is targeted at qualified institutional buyers under Rule 144A, with an offshore tranche under Regulation S.
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