Sabre’s $393 Million Offering

June 7, 2018

Cleary Gottlieb represented Sabre Corporation (Sabre), and affiliates of TPG Global, LLC and Silver Lake Partners (collectively, the selling stockholders) in a $393 million secondary public offering of 16 million shares of common stock.

The offering priced on June 5, 2018, and closed on June 7, 2018. All of the shares of common stock offered were sold by the selling stockholders. As part of this transaction, Sabre repurchased 1 million of the 16 million shares of common stock from the underwriter for approximately $24 million. Sabre did not sell any shares or receive any proceeds from the offering. Following the offering, affiliates of TPG Global, LLC and Silver Lake Partners will continue to own approximately 14 percent of Sabre. Cleary acted as counsel to Sabre in Sabre’s initial public offering in April 2014, in six other secondary public offerings by the selling stockholders in February 2015, May 2015, August 2015, November 2015, February 2016, and March 2018, and in offerings of senior secured notes by Sabre GLBL in April 2015, and November 2015.

Sabre Corporation is a leading technology provider to the global travel and tourism 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, flight, network, and crew management. Sabre also operates a leading global travel marketplace, which processes more than $120 billion of estimated travel spend annually by connecting travel buyers and suppliers. Headquartered in Southlake, Texas, U.S., Sabre serves customers in more than 160 countries around the world.