SOUTHLAKE, Texas, December 7, 2020 / PRNewswire / – Saber Corporation (“Saber”) (Nasdaq: SABR) today announced plans to refinance a portion of its existing debt. The proposed refinancing includes borrowing by its wholly owned subsidiary, Saber GLBL Inc. (“Saber GLBL”), under a new $ 637,000,000 million Term Loan Facility B (the “New Facility”) under the Senior Secured Credit Agreement (the “Credit Agreement”) governing its Existing Revolving Credit Facility, Term Loan Facility “A” (the “A Term Loans”), and its existing “B” term loan facility. Saber would not incur any additional indebtedness as a result of the proposed refinancing beyond the refinanced amount, other than the amounts covering interest, fees and expenses related to the repayment of term loans A. The proposed refinancing is expected to improve significantly Saber’s debt maturity profile and preserve its flexibility.
The new facility would include a $ 500 million additional term loan “B”, the proceeds of which would be used to buy back all of the assets of Saber GLBL November 2023 secure tickets and a $ 137,000,000 million the refinancing of a “B” term loan, the proceeds of which would be used to prepay all of its A term borrowings still outstanding and part of the fees and expenses related to the early repayment. The New Facility would expire on the seventh (7th) anniversary of the closing date of the New Facility.
The precise timing and terms of the New Facility are subject to agreement with Saber banks and lending institutions, market conditions and other factors. No guarantee can be given that the New Facility will be consumed on the terms offered or not at all or that any existing debt will be repaid or prepaid as described above.
The New Facility will be guaranteed by Saber Holdings Corporation and each subsidiary of Saber GLBL that guarantees the Credit Agreement. The new facility and its guarantees will be secured, subject to authorized privileges, by a first ranking security interest in the same guarantee that secures the other senior secured debt of Saber GLBL, which is substantially all of the current and future property and assets acquired from Saber GLBL. and guarantors (other than certain excluded assets).
BofA Securities, Inc., Mizuho Bank, Ltd., Wells Fargo Securities, LLC, Deutsche Bank Securities Inc., Citibank NA, PNC Bank, National Association, Goldman Sachs Bank United States, Morgan Stanley Senior Funding, Inc., MUFG, JPMorgan Chase Bank, NA and ING Bank, NA are proposed to act as associate bookkeepers and BofA Securities, Inc. will act as sole principal arranger. Bank of America is the administrative agent and the guarantee agent for the credit agreement.
About Saber Corporation
Saber Corporation is a leading software and technology company powering the global travel industry, serving a wide range of travel agencies, including airlines, hoteliers, travel agencies and other suppliers. The company provides retail, distribution and fulfillment solutions that help its customers operate more efficiently, generate revenue and deliver personalized travel experiences. Through its leading travel market, Saber connects travel suppliers with buyers around the world. Saber’s technology platform manages more than 260 billion dollars value of global travel expenses each year. Based at Southlake, Texas, United States, Saber serves customers in more than 160 countries around the world. For more information visit www.sabre.com.
Certain statements contained in this document are forward-looking statements about trends, future events, uncertainties and our plans and expectations as to what may happen in the future. All statements that are not historical or current facts are forward-looking statements. In many cases, you can identify forward-looking statements by words such as “believe”, “may”, “” “will”, “incremental”, “preliminary”, “forecast”, “continuing”, “strategy”, “confidence”, “momentum”, “estimate”, “objective”, “project”, “may”, “should”, “would”, “intend”, “potential” or the negative of these terms or d ‘another comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Saber’s actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by the statements. prospective. Further information about the potential risks and uncertainties that could affect our business and results of operations is included in the “Risk Factors” and “Forward-Looking Statements” sections of our Annual Report on Form 10-K filed with the SEC. the February 26, 2020, our quarterly report on Form 10-Q filed with the SEC on November 6, 2020 and in our other documents filed with the SEC. Although we believe that the expectations reflected in forward-looking statements are reasonable, we cannot guarantee future events, prospects, directions, results, actions, activity levels, performance or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by law, Saber assumes no obligation to publicly update or revise forward-looking statements to reflect circumstances or events after the date they are made.
SOURCE Saber Corporation