We advised Sabre on the facility

Davis Polk advised Sabre Corporation in connection with an expansion of Sabre Securitization LLC’s existing accounts receivable securitization facility from $200 million to $235 million and the extension of its maturity date to March 2027. The amendment to the securitization facility implemented a fully funded $120 million “first-in, last-out” tranche, provided by various entities advised by affiliates of Centerbridge Partners, L.P., and retained a revolving tranche provided by the existing lender, PNC Bank, for the remaining amount.

Sabre is the leading technology provider to the global travel industry. Sabre’s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, and flight, network and crew management. Sabre is headquartered in Southlake, Texas.

The Davis Polk finance team included partners Scott M. Herrig and Meyer C. Dworkin, counsel David J. Kennedy and associates Pablo Solórzano and Catrell D. Jewel. Partner Marshall S. Huebner and counsel Erika D. White provided restructuring advice. Partner Corey M. Goodman and associate Dmitry Dobrovolskiy provided tax advice. All members of the Davis Polk team are based in the New York office.

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