Sabre finalizes $1.89 billion term loan B at Libor plus 225 bps

By Sara Rosenberg

New York, Aug. 9 – Sabre Inc. set pricing on its $1,891,000,000 term loan B at Libor plus 225 basis points, the low end of the Libor plus 225 bps to 250 bps talk, according to a market source.

In addition, the original issue discount on the term loan firmed at 99.875, the midpoint of the 99.75 to par talk, the source said.

The loan still has a 0% Libor floor and 101 soft call protection for six months.

Bank of America Merrill Lynch is the left lead bank on the deal.

Proceeds will be used to refinance an existing term loan B that is priced at Libor plus 275 bps with a 0% Libor floor and a step-down to Libor plus 250 bps when leverage is 2.5 times.

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

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