Company: SABR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001597033-25-000061
Chunk: 302

Company: Sabre Corp
Filing Date: 2025-05-07
Form: 10-Q
Item: Part II, Item 7
Chunk 302
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 interest expense. Currently approximately 48% of our debt, net of cash and hedging impacts from interest rates swaps, is variable and impacted by changes in interest rates. Approximately 28% of our debt is variable, excluding the Senior Secured Term Loan due in 2028, where pricing is subject to the highest yield to maturity of Sabre GLBL secured debt as defined by the Reference Rate.  See “Risk Factors—We are exposed to interest rate fluctuations.” 

23

Agreement to sell Hospitality Solutions Business

On April 27, 2025, we entered into a definitive purchase agreement for the Hospitality Solutions Sale. The purchase price for the transaction is approximately $1.1 billion in cash, and we are currently evaluating the impact of the sale to our financial statements. The Hospitality Solutions Sale is expected to close by the end of the third quarter of 2025, subject to customary closing conditions and regulatory approvals. Following closing of the Hospitality Solutions Sale, we expect to use the net proceeds of approximately $960 million (net of estimated taxes, fees and customary closing working capital adjustments) primarily to repay our outstanding indebtedness. See "Liquidity and Capital Resources— Capital Resources". As a result of the Hospitality Solutions Sale, we expect our Hospitality Solutions segment to be presented as a discontinued operation in the second quarter of fiscal 2025. Following the closing of the Hospitality Solutions Sale, we expect to manage and report our business in one reportable segment. In addition to the purchase agreement described above, the parties expect to enter into a transition services agreement, pursuant to which Sabre will provide certain services following closing to assist in the transition of the Hospitality Solutions business.

Factors Affecting our Results

In addition to the “—Recent Developments Affecting our Results of Operations” above, a discussion of trends that we believe are the most significant opportunities and challenges currently impacting our business and industry is included in the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Factors Affecting our Results” in our Annual Report on Form 10-K filed with the SEC on February 20, 2025. The discussion also includes management’s assessment of the effects these trends have had and are expected to have on our results of continuing operations. This information is not an exhaustive list of all of the factors that could affect our results and should be read in conjunction with the factors referred to in the sections entitled “Risk Factors” and “Forward-Looking Statements” included in this Quarterly Report