The refinancing included the application of the proceeds of the approximately $1.88 billion replacement term loan B facility to pay down in full approximately $1.88 billion of the existing term loan B incurred prior to March 2, 2018 under the company’s existing senior secured term loan credit facility. The replacement term loan B facility matures on February 22, 2024.
The refinancing reduced the interest rate of the facility and did not incur any additional indebtedness for Sabre.
Merrill Lynch, Goldman Sachs, JPMorgan, Mizuho, Morgan Stanley MUFG Loan Partners, Morgan Stanley Senior Funding, PNC Bank, Bank of Tokyo-Mitsubishi UFJ and Wells Fargo Securities acted as joint lead arrangers and joint bookrunners for the transactions.
Sabre provides software, data, mobile and distribution solutions for airlines, hotel properties and other companies in the global travel industry.