Sabre lifts term B to $650-$700 million, firms at SOFR plus 500 bps

By Sara Rosenberg

New York, Aug. 9 – Sabre GLBL Inc. upsized its term loan B due June 30, 2028 to a range of $650 million to $700 million from $400 million and set the spread at SOFR plus 500 basis points, the high end of the SOFR plus 475 bps to 500 bps talk, according to a market source.

Also, the original issue discount on the term loan firmed at 95, the tight end of the 94 to 95 talk, the source said.

As before, the term loan has a 0.5% floor, CSA of 10 bps and 101 hard call protection for one year.

BofA Securities Inc. is the left lead arranger on the deal.

Recommitments were scheduled to be due at 5 p.m. ET on Tuesday, the source added.

Proceeds will be used to prepay a portion of the company’s term loan B due 2024 and pay related fees and expenses.

Sabre is a Southlake, Tex.-based software and technology company for the travel industry.

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