Sabre talks $250 million series A convertible preferred stock at 6.25%-6.75%, up 17.5%-22.5%

By Abigail W. Adams

Portland, Me., Aug. 18 – Sabre Corp. plans to price $250 million of three-year $100-par series A mandatory convertible preferred stock after the market close on Wednesday with price talk for a dividend of 6.25% to 6.75% and a threshold appreciation premium of 17.5% to 22.5%, according to a market source.

Morgan Stanley & Co. LLC (lead left), BofA Securities Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA Inc., Wells Fargo Securities LLC, Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. are bookrunners for the registered offering, which carries a greenshoe of $37.5 million.

The preferred stock will be listed under the ticker “SABR-P.”

Proceeds will be used for general corporate purposes.

Sabre is a Southlake, Tex.-based software and technology company.

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