Sabre launches $1.88 billion term loan B at Libor plus 200 bps

By Sara Rosenberg

New York, Feb. 20 – Sabre GLBL Inc. launched without a lender call on Tuesday a $1,881,000,000 covenant-light term loan B due Feb. 22, 2024 that is talked at Libor plus 200 basis points with a 0% Libor floor and an original issue discount of 99.875 to par, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Bank of America Merrill Lynch, Goldman Sachs Bank USA, JPMorgan Chase Bank, Mizuho, Morgan Stanley Senior Funding Inc., PNC and Wells Fargo Securities LLC are the lead arrangers on the deal.

Proceeds will be used to refinance/reprice an existing term loan B priced at Libor plus 225 bps with a 0% Libor floor.

Commitments are due at noon ET on Friday, the source added.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.