Sabre closed a $400 million revolver, replacing the company’s existing $405 million revolving credit facilities, and a $600 million incremental term loan A facility. Both were applied to pay down $470 million of existing and outstanding revolving loans and term loan B loans under the company’s existing senior secured term loan credit facility.
The new revolver and the term loan a facility mature on July 18, 2021, subject to an earlier springing maturity of November 19, 2018 in the event the existing term loan b facility has not been refinanced by November 19, 2018.
Bank of America Merrill Lynch, Goldman Sachs, JP Morgan Chase Bank, Mizuho Bank, Morgan Stanley MUFG Loan Partners, and Morgan Stanley Senior Funding, Natixis and Wells Fargo Securities acted as joint lead arrangers and joint bookrunners for the transaction. Bank of America Merrill Lynch is the administrative agent and collateral agent for the credit facility under which the incremental new revolver and the incremental term loan a facility were extended and borrowed.
Sabre is the leading technology provider to the global travel industry.