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Sabre Corporation Announces Pricing Of $500 Million Of Senior Secured Notes

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

SOUTHLAKE, Texas, November 4, 2015

Sabre Corporation (Sabre) (Nasdaq: SABR) today announced the pricing of an offering by its wholly-owned subsidiary Sabre GLBL Inc. (Sabre GLBL) of $500 million aggregate principal amount of 5.25% senior secured notes due 2023 (the Notes). The Notes and the related note guarantees will be offered in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act) and to non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes will carry a coupon of 5.25% per an num, payable semi-annually in arrears, commencing on May 15, 2016. The offering is expected to close on November 9, 2015, subject to customary closing conditions.

The net proceeds from the sale of the Notes will be used to redeem $235 million aggregate principal amount of the $400 million 8.35% senior unsecured notes due 2016 issued by Sabre Holdings Corporation, a subsidiary of Sabre and parent of Sabre GLBL, and to pay accrued interest, premiums, fees and expenses related thereto. The excess net proceeds will be available for general corporate purposes, including potential acquisitions and certain potential repurchases of shares of Sabres common stock. The foregoing does not constitute a notice of redemption for or an obligation to issue a notice of redemption for our outstanding notes.

The Notes will be guaranteed by Sabre Holdings Corporation and each subsidiary...


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