Sabre Corporation - Exchange Offer - Early Participation Results

Sabre Corporation Announces Early Participation Results of the Exchange Offers for Certain Senior Secured Debt Securities

21 AUGUST 2023

Full announcement including full disclosures and disclaimers available via SEC

"SOUTHLAKE, Texas—August 21, 2023—Sabre Corporation (“Sabre”) (NASDAQ: SABR) today announced the initial results of the previously announced exchange offers (each, an “Exchange Offer” and together, the “Exchange Offers”) by Sabre GLBL Inc. (“Sabre GLBL”), a wholly-owned subsidiary of Sabre, to exchange any and all of its outstanding 7.375% Senior Secured Notes due 2025 (the “September 2025 Notes”) and 9.250 % Senior Secured Notes due 2025 (the “April 2025 Notes” and, together with the September 2025 Notes, the “Existing Notes” and each of them a “series” of Existing Notes) for cash and Sabre GLBL’s new 8.625% Senior Secured Notes due 2027 (the “New Notes” and together with the Existing Notes, the “Securities”), upon the terms and subject to the conditions described in the confidential offering circular, dated as of August 7, 2023, for the Exchange Offers (as it may be amended or supplemented, the “Offering Circular”).

The following table sets forth the principal amount of each series of the Existing Notes that were validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on August 18, 2023 (the “Early Exchange Date”), according to information provided by D.F. King, the information and exchange agent for the Exchange Offers (the “Exchange Agent”):"

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Sabre Corporation Announces Exchange Offers by Sabre GLBL Inc. for Certain Senior Secured Debt Securities

07 AUGUST 2023

Full announcement including full disclosures and disclaimers available via SEC

SOUTHLAKE, Texas—August 7, 2023 - Sabre Corporation (“Sabre”) today announced that Sabre GLBL Inc. (“Sabre GLBL”), a wholly-owned subsidiary of Sabre, has commenced exchange offers (each, an “Exchange Offer” and together, the “Exchange Offers”) to exchange any and all of its outstanding 7.375% Senior Secured Notes due 2025 (the “September 2025 Notes”) and 9.250 % Senior Secured Notes due 2025 (the “April 2025 Notes” and, together with the September 2025 Notes, the “Existing Notes” and each of them a “series” of Existing Notes) for cash and Sabre GLBL’s new 8.625% Senior Secured Notes due 2027 (the “New Notes” and together with the Existing Notes, the “Securities”), upon the terms and subject to the conditions described in the confidential offering circular, dated as of August 7, 2023, for the Exchange Offers (as it may be amended or supplemented, the “Offering Circular”). The primary purpose of the Exchange Offers is to improve the Company’s maturity profile by extending the maturity date of the indebtedness represented by the Existing Notes from 2025 to 2027.

The following table summarizes certain terms of the Exchange Offers:

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***PREVIOUS SABRE OFFER DETAILED BELOW***

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Sabre Corporation Announces Early Tender Results and Upsize of Previously Announced Cash Tender Offers by Sabre GLBL Inc.

12 JUNE 2023

Full announcement, including disclaimers and offer restrictions available via Prnewswire

"SOUTHLAKE, Texas, June 12, 2023 /PRNewswire/ -- Sabre Corporation ("Sabre") (NASDAQ: SABR) announced today the early tender results of the company's previously announced cash tender offers (the "Tender Offers") by Sabre GLBL Inc. ("Sabre GLBL"), its wholly owned subsidiary, for Sabre GLBL's securities set forth in the table below (collectively, the "Securities"). Sabre further announced that it is amending its Tender Offers to (i) increase the maximum Aggregate Purchase Price (as defined below) from the previously announced amount of $615 million to $650 million and (ii) extend the Tender Offers so that the Tender Offers will now expire at 5:00 p.m., New York City time, on June 27, 2023, unless further extended or earlier terminated. As the Aggregate Purchase Price of all Securities validly tendered and not validly withdrawn in the Tender Offers at or prior to the Early Tender Deadline (as defined below) exceeds $650 million, no Securities tendered after the Early Tender Deadline will be accepted for purchase.

The Tender Offers are being made pursuant to the terms and conditions set forth in the offers to purchase, dated May 25, 2023, as amended by this press release (as so amended, the "Offer to Purchase"). Except for the increase in the maximum Aggregate Purchase Price and the extension of the Tender Offers as described in this press release, no other terms of the Tender Offers have changed.

As of 5:00 p.m., New York City time, on June 9, 2023 (such date and time, the "Early Tender Deadline"), according to information provided to D.F. King & Co., Inc., the tender and information agent for the Tender Offers, the aggregate principal amount of each series of Securities listed in the table below has been validly tendered and not validly withdrawn in the Tender Offers. Withdrawal rights for the Securities expired at the Early Tender Deadline and, accordingly, any Securities that were validly tendered may no longer be withdrawn except where additional withdrawal rights are required by law."

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Sabre Corporation Announces Commitment of a $665 Million Private Financing and Cash Tender Offers by Sabre GLBL Inc. for Existing Secured Debt

25 MAY 2023

Full announcement, including disclaimers and offer restrictions available via SEC

"SOUTHLAKE, Texas—May 25, 2023—Sabre Corporation (“Sabre”) (Nasdaq: SABR) today announced its intended refinancing plan to proactively manage and extend the maturity profile of its debt.

Sabre GLBL Inc. (“Sabre GLBL”), a wholly-owned subsidiary of Sabre, has entered into a commitment letter with lenders (together, the “Lenders”) led by affiliates of Centerbridge Partners, L.P. for a $665 million new senior secured credit facility (the “New Facility”) to Sabre Financial Borrower, LLC (the “Borrower”), a newly created wholly-owned subsidiary of Sabre GLBL. The New Facility will be secured by an intercompany loan by the Borrower to Sabre GLBL, as further described below, and will receive direct guarantees from, and security interest in assets of, certain foreign subsidiaries of Sabre.

The Lenders have committed to provide the New Facility, subject to the Borrower using the proceeds therefrom for an intercompany loan to Sabre GLBL (together with the New Facility, the “Financing Transaction”).

Concurrently with the Financing Transaction, Sabre GLBL has commenced tender offers (the “Tender Offers”) to purchase for cash, upon the terms and subject to the conditions described in the Offer to Purchase (as defined below), up to a principal amount of its securities set forth in the table below (collectively, the “Securities”) that would not result in the Aggregate Purchase Price (as defined below) exceeding $615 million (subject to increase or decrease by Sabre GLBL in its sole discretion, the “Aggregate Maximum Tender Amount”).

The following table sets forth certain terms of the Tender Offers:"

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