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Sabre Corporation Announces Pricing Of Common Stock By Existing Shareholders And Repurchase Of Common Stock

The following excerpt is from the company's SEC filing.

SOUTHLAKE, Texas, November 4, 2015 Sabre Corporation (Sabre or the Company) (Nasdaq: SABR) today announced the pricing of the previously announced secondary public offering of 30,000,000 shares of common stock by existing stockholders affiliated with TPG Global, LLC and Silver Lake Management Company II, L.L.C. (the Selling Stockholders), at a price to the public of $29.27 per share. All of the shares are being sold on a pro rata basis by the Selling Stockholders in accordance with their current interests, and the Selling Stockholders will receive all of the net proceeds from this offering. No shares are b eing sold by the Company.

Subject to completion of the offering, Sabre will repurchase from the underwriter approximately $100 million of the 30,000,000 shares of common stock being sold by the Selling Stockholders. Sabres per-share purchase price for the repurchased shares will be the same as the per-share purchase price payable by the underwriter to the Selling Stockholders. Sabre expects to fund the share repurchase with the proceeds of an offering by its wholly-owned subsidiary, Sabre GLBL Inc., of 5.250% senior secured notes due 2023.

Morgan Stanley is acting as the sole underwriter for the offering.

A registration statement on Form S-3 (including a prospectus) relating to these securities has been filed with the Securities and Exchange Commission (the SEC) and is effective...


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