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BofA, Goldman Sachs Among Lenders in Sabre’s New Credit Facilities

July 19, 2016, 07:25 AM
Filed Under: Technology

Sabre Corporation announced the closing of an incremental revolving credit facility and an incremental term loan credit facility.  The $400 million revolver ("New Revolver") replaces the company's existing $405 million revolving credit facilities, and the proceeds of the $600 million incremental Term Loan A facility ("Term Loan A Facility") 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 "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.

The company's credit agreement was amended to permit the New Revolver and Term Loan A Facility, as well as to authorize the company and its subsidiaries to enter into various intercompany business transactions.

Bank of America Merrill Lynch, Goldman Sachs Bank USA, JP Morgan Chase Bank, N.A., Mizuho Bank, Ltd., Morgan Stanley MUFG Loan Partners, LLC (acting through The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Morgan Stanley Senior Funding, Inc.), Natixis, New York Branch, and Wells Fargo Securities, LLC 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 Corporation is the leading technology provider to the global travel industry. Sabre's software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management.

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