Sabre launches $1.9 billion term loan B at Libor plus 275 bps

By Sara Rosenberg

New York, Feb. 8 – Sabre Inc. held a call at 2 p.m. ET on Wednesday to launch a $1.9 billion seven-year covenant-light term loan B talked at Libor plus 275 basis points with no Libor floor and an original issue discount of 99.5 to 99.75, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Bank of America Merrill Lynch, Goldman Sachs Bank USA, J.P. Morgan Securities LLC, Mizuho, Wells Fargo Securities LLC, Natixis, Morgan Stanley Senior Funding Inc. and MUFG are the lead banks on the deal.

Proceeds will be used to refinance existing debt and for general corporate purposes.

Commitments are due at 5 p.m. ET on Tuesday, the source added.

Sabre is a Southlake, Texas-based online travel company.

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