Sabre Announces Successful Completion Of Previously Announced Private Financing And Settlement Of Cash Tender To Strengthen Balance Sheet And Improve Free Cash Flow
Sabre Announces Successful Completion Of Previously Announced Private Financing And Settlement Of Cash Tender To Strengthen Balance Sheet And Improve Free Cash Flow
06/13/23, 8:35 PM
Location
southlakeIndustry
information technology
Investors
Centerbridge, Centerbridge Partners, L.P.
Sabre Corporation (NASDAQ: SABR), a leading software and technology provider that powers the global travel industry, announced today the successful completion of a $700M private financing led by Centerbridge and other high quality institutional investors, and the corresponding early tender settlement by purchasing $670 million in principal amount of the 9.250% Senior Secured Notes due 2025 in a cash tender offer. The transaction enables the company to strengthen its balance sheet by refinancing and extending a significant portion of its capital structure's 2025 maturities and provides financial flexibility and improved free cash flow via a payment-in-kind (PIK) interest toggle through 2025.
Company Info
Location
southlake, texas, united states
Additional Info
Sabre Corporation is a leading technology provider to the global travel industry. Its Hospitality Solutions business provides software and solutions to hotels, enhancing their operation and management capabilities. The company is known for its SaaS-based platform that serves as an integrated system of record for hotel reservations and guest information.