SOUTHLAKE, Texas, December 17, 2020 / PRNewswire / – Saber Corporation (“Saber”) (Nasdaq: SABR) today announced the refinancing of a portion of its existing debt, including the full repayment of its A Term Credit Facility and the satisfaction and Discharge of Saber GLBL Inc 5.250% Senior Covered Bonds. November 2023 (the “November 2023 Notes “). Saber did not incur any additional indebtedness as a result of the refinancing beyond the refinanced amount, except for amounts covering certain interest, fees and expenses. The refinancing significantly improved the debt maturity profile of Saber and preserves its flexibility.
Refinancing included the allocation of proceeds from a new $ 637 million Term Credit Facility “B” (the “New Facility”) borrowed by its wholly-owned subsidiary Saber GLBL Inc. (“Saber GLBL”) under its existing senior secured credit agreement (the “ credit ‘), to repay in full approximately $ 134 million of the existing term loan A credit facility contracted before December 17, 2020 under the credit agreement and to redeem all $ 500 million exceptional achievements of Saber GLBL November 2023 Remarks. The new facility matures on December 17, 2027 and offers Saber the option to prepay the new facility after 12 months or prepay with a premium of 101 before that date.
The New Facility is guaranteed by Saber Holdings Corporation and each subsidiary of Saber GLBL that guarantees the Credit Agreement. The New Centrale and the guarantees thereof are secured, subject to authorized privileges, by a first ranking security interest in the same guarantee which 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 the 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 Bank Ltd., JPMorgan Chase Bank, NA and ING Bank, NA acted as associate bookkeepers and BofA Securities, Inc. 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 the leading technology provider to the global travel industry. Saber’s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel establishments to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management. Saber also operates a leading global travel market, which processes more than $ 120 billion in estimated travel spend each year by connecting travel buyers and suppliers. Based in Southlake, Texas, United States, Saber operates offices in approximately 160 countries around the world.
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”, “intention”, “potential” or the negative of these terms or 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.
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SOURCE Saber Corporation