Company: SABR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001597033-25-000090
Chunk: 152

Company: Sabre Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 152
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920 Less current portion of debt outstanding(42,543)(230,704)Face value of long-term debt outstanding  $5,122,335 $4,990,216 ______________________(1) Represents the Secured Overnight Financing Rate ("SOFR").(2) Represents the Reference Rate as defined below.(3) At our election, if interest is paid in cash the spread is 0.25% per annum, and in the case of interest paid-in-kind the spread is 1.75%.(4) In connection with the issuance of the FILO Facility (as defined below), the drawn fee rate varies based on our leverage ratio. The drawn fee rate ranges from 3.00% to 4.00%, with incremental increases of 0.25% between these levels.(5)Repaid in full on April 15, 2025.We had outstanding letters of credit totaling $12 million and $13 million as of June 30, 2025 and December 31, 2024, respectively, which were secured by a $21 million cash collateral deposit account.The weighted average interest rate on our short-term borrowings, which include our 7.375% senior secured notes due 2025 and the current portions of the 2021 Term Loan B-1, 2021 Term Loan B-2, 2022 Term Loan B-1, 2024 Term Loan B-1 and 2024 Term Loan B-2, is 8.17% as of June 30, 2025. Senior Secured Credit Facilities Refinancing TransactionsOn November 25, 2024, we entered into a third and fourth amendment (together, the “Term Loan B Amendments”) to the Amended and Restated Credit Agreement dated as of February 19, 2013 (the "Amended and Restated Credit Agreement")  pursuant to which Sabre GLBL agreed to exchange $775 million of our existing senior secured term loans (the “Existing Term Loans”) for the same amount of new senior secured term loans maturing on November 15, 2029 (the “2024 Term Loans”). We incurred no additional indebtedness as a result of this refinancing. The Term Loan B Amendments included the application of the proceeds of a new $700 million and $75 million term loan “B” facility (the “2024 Term Loan B-1” and the ”2024 Term Loan B-2”, respectively),