Sabre gets LBO financing debt commitments from Deutsche and Merrill

By Sara Rosenberg

New York, Dec. 12 - Sabre Holdings Corp. has received debt commitments from Deutsche Bank and Merrill Lynch to back its leveraged buyout by Silver Lake Partners and Texas Pacific Group, according to a news release.

Under the LBO agreement, Silver Lake and Texas Pacific will acquire the company for $32.75 per share in cash. The transaction is valued at about $5 billion, including the assumption of about $550 million in net debt.

It is anticipated that the company's outstanding 2011 and 2016 notes will remain outstanding.

Closing is expected to occur by early in the second quarter of 2007, subject to customary conditions, including receipt of stockholder and regulatory approval. There is no financing condition.

Sabre is a Southlake, Texas, retailer of travel products and provider of distribution and technology services for the travel industry.

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