Company: SABR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001597033-25-000027
Chunk: 586

Company: Sabre Corp
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1A
Chunk 586
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31, 2024, the impact to our interest income from these investments would not be material. This amount was determined by applying the hypothetical interest rate change to our average time deposits and money market funds invested.

In April 2022, we entered into an interest rate swap to hedge the interest payments associated with $200 million of the floating-rate 2022 Term Loan B-1 for the years 2022 and 2023. In June 2022, we entered into an interest rate swap to hedge the interest payments associated with $150 million of the floating-rate 2022 Term Loan B-1 for the years 2022 and 2023. In February 2023, we entered into a forward-starting interest rate swap to hedge the interest payments associated with $250 million of the floating-rate 2022 Term Loan B-1 for the year ended 2024. In June 2023, we entered into an interest rate swap to hedge the interest payments associated with $250 million of the floating-rate 2022 Term Loan B-2 for the periods through June 2026.  In January 2024, we entered into an interest rate swap to hedge interest payments associated with $250 million of the floating rate 2022 Term Loan B-1 related to the years 2024 and 2025. We designated these swaps as cash flow hedges. 

Interest rate swaps outstanding at December 31, 2024 and matured during the years ended December 31, 2024, 2023 and 2022 are as follows:

Notional AmountInterest RateReceivedInterest Rate PaidEffective DateMaturity DateDesignated as Hedging Instrument$200 million1 month SOFR(1)3.09%(2)April 30, 2022December 31, 2023$150 million1 month SOFR(1)3.98%(3)June 30, 2022December 31, 2023$250 million1 month SOFR(1)4.72%June 30, 2023June 30, 2026$250 million1 month SOFR(1)3.88%December 31, 2023December 31, 2024$250 million1 month SOFR(1)4.37%January 16, 2024January 31, 2026

(1)____________________

(1)     Subject to a 0.5% floor.

(2