Sabre Corporation - SABR STOCK NEWS

Sabre Corporation (SABR) announced a successful capital structure readjustment on September 2, 2020, raising approximately $598 million in net proceeds through equity offerings. This increase in cash on hand is part of Sabre's strategy to enhance liquidity due to the ongoing effects of the COVID-19 pandemic. Additionally, Sabre extended the maturity of a significant portion of its debt through new senior secured notes of $850 million due 2025, aiming to position itself for growth post-pandemic.

Sabre Corporation (NASDAQ: SABR) has renewed its partnership with TravelStore, California's largest independent travel management company, through a multi-year agreement. This extension allows TravelStore to utilize Sabre's comprehensive travel content and Sabre Red 360 technology, enhancing their ability to provide personalized travel experiences. TravelStore, established in 1975, focuses on superior customer service and a wide range of travel management services, including virtual payment solutions for hotel bookings. The partnership aims to support business growth during the recovery of the travel industry.

Sabre Corporation (NASDAQ: SABR) has appointed Scott Wilson as the new president of Sabre Hospitality Solutions, effective September 8, 2020. Wilson brings over 25 years of experience in strategic planning and commercial activities from his previous roles at Great Wolf Resorts, Marriott International, and United Airlines. His appointment aims to streamline Sabre's hospitality business, which is crucial in the company's ongoing transformation towards personalized travel solutions. Recently, Sabre partnered with Accor to enhance its property management capabilities, focusing on innovation and increased market reach.

Sabre Corporation and SAS, Scandinavia's leading airline, announced a new multi-year distribution agreement on August 27, 2020. This deal allows Sabre-connected agencies to access competitive SAS content, enhancing SAS's global reach and control over distribution costs. The agreement aims to improve traveler experiences by providing a diverse range of offers through Sabre's global distribution system. SAS, committed to sustainability, aims to reduce carbon emissions by 25% by 2025 while serving around 30 million passengers annually.

Sabre Corporation (NASDAQ: SABR) has achieved significant milestones in enhancing its NDC capabilities, marking a step towards a personalized travel marketplace. The company has been certified Level 4 by IATA in collaboration with Flight Centre Travel Group and an airline partner, enhancing content access across the travel value chain. Additionally, Belavia Airlines became the first airline to receive IATA's Level 3 certification using Sabre's NDC technology. This progress is seen as crucial for improving travel distribution and meeting rising customer demands for personalization despite ongoing challenges from the COVID-19 pandemic.

Sabre Corporation (Nasdaq: SABR) announced the upsizing and pricing of a $850 million offering of 7.375% senior secured notes due 2025, an increase of $550 million. The offering is set to close on August 27, 2020. Proceeds will be utilized to repay approximately $300 million of Term Loan A debt due July 2022, refinance $530 million of 5.375% senior secured notes maturing in April 2023, and repay other secured debts. The notes will be guaranteed by Sabre Holdings and its subsidiaries, secured by a first-priority interest in Sabre GLBL's assets.

Sabre Corporation (Nasdaq: SABR) has announced a proposed offering of $300 million in senior secured notes through its subsidiary, Sabre GLBL Inc. The net proceeds will be utilized for repayment of Sabre's bank debt. These notes will be guaranteed by Sabre Holdings and secured by a first-priority interest in substantially all of Sabre GLBL’s assets, excluding certain assets. The offering is targeted at qualified institutional buyers and will not be registered under the Securities Act, limiting its sale in the U.S.

Sabre Corporation (Nasdaq: SABR) has announced the pricing of two concurrent public offerings: 3,000,000 shares of 6.50% Series A Mandatory Convertible Preferred Stock at $100.00 each and 35,714,286 shares of common stock at $7.00 each. The offerings will settle on August 24, 2020, with net proceeds expected to be approximately $239.4 million from the common stock offering and $290.3 million from the preferred stock offering. Funds will be used for general corporate purposes. Conversion of preferred shares into common stock is anticipated by September 1, 2023.

On August 18, 2020, Sabre Corporation (Nasdaq: SABR) announced public offerings totaling $500 million, comprising $250 million each of mandatory convertible preferred stock and common stock. The offerings may increase to $575 million if underwriters exercise their overallotment options. Proceeds will fund general corporate purposes. Each preferred share has a liquidation preference of $100.00 and will convert to common stock on September 1, 2023. The offerings are led by Morgan Stanley and BofA Securities.