Company: SABR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001597033-25-000027
Chunk: 47

Company: Sabre Corp
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 47
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 the Amended and Restated Credit Agreement.Financial CovenantsUnder the Amended and Restated Credit Agreement, the loan parties are subject to certain customary non-financial covenants, including restrictions on incurring certain types of indebtedness, creation of liens on certain assets, making of certain investments, and payment of dividends. We are further required to pay down the term loans with proceeds from certain asset sales, if not reinvested into the business within 15 months, as defined in the Amended and Restated Credit Agreement. As of December 31, 2024, we were in compliance with all covenants under the terms of the Amended and Restated Credit Agreement.InterestBorrowings under the Amended and Restated Credit Agreement for our Senior Secured Credit Facilities bear interest at a rate equal to either, at our option: (i) the Term SOFR rate plus an applicable margin for Term SOFR borrowings as set forth below, or (ii) a base rate determined by the highest of (1) the prime rate of Bank of America, (2) the federal funds effective rate plus 0.50% or (3) Term SOFR plus 1.00%, plus an applicable margin for base rate borrowings as set forth below. The Term SOFR rate is based on SOFR for all U.S. dollar borrowings and has a floor. We have elected the one-month SOFR as the floating interest rate on our outstanding term loans that are subject to SOFR. Interest payments are due on the last day of each month as a result of electing one-month SOFR. Term SOFR borrowingsBase rate borrowings Applicable MarginApplicable Margin2021 Term Loan B-13.50%(1)2.50%(1)2021 Term Loan B-23.50%(1)2.50%(1)2022 Term Loan B-14.25%(2)3.25%(2)2022 Term Loan B-25.00%(2)4.00%(2)2024 Term Loan B-16.00%(3)5.00%(3)2024 Term Loan B-26.00%(3)5.00%(3)_____________________________(1)2021 Term Loan B-1 and 2021 Term Loan B-2 are subject to a 0.50% floor and a SOFR adjustment factor of 0.11% for the Term SOFR rate and 1.