Sabre closed an incremental term loan credit facility. The proceeds of the $1.9 billion incremental term loan B facility were applied to pay down approximately $1.75 billion of all existing classes of outstanding term loans (other than incremental term A loans) incurred prior to February 22, 2017 under the company’s existing senior secured term loan credit facility and will be used to repay approximately $80 million of its outstanding mortgage on its corporate headquarters and for other general corporate purposes. The term loan B facility matures on February 22, 2024.
Bank of America Merrill Lynch, Goldman Sachs Lending Partners, JP Morgan Chase, Mizuho Bank, Morgan Stanley MUFG Loan Partners, Natixis and Wells Fargo Securities acted as joint lead arrangers and joint bookrunners for the transaction. Bank of America is the administrative agent and collateral agent.
Southlake, TX-based Sabre is a technology provider to the global travel industry.