We advised Sabre on its exchange of exchangeable senior notes

Davis Polk advised Sabre Corporation in connection with a private exchange of $150.0 million aggregate principal amount of existing 4.000% exchangeable senior notes due 2025 for a consideration consisting of $150.0 million aggregate principal amount of newly issued 7.32% exchangeable senior notes due 2026 and cash representing a premium and accrued interest.

Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. It provides retailing, distribution and fulfillment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences.

The Davis Polk capital markets team included partner Yasin Keshvargar, counsel Joze Vranicar and associates Soo Kyung Chae and Sean Kennelly. The equity derivatives team included partner Mark J. DiFiore, counsel Joseph Luizzi and associate Eugenia S. Lee. The tax team included partner Corey M. Goodman, counsel Aliza Slansky and associate Dmitry Dobrovolskiy. All members of the Davis Polk team are based in the New York office.