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Debt | 9 Months Ended
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Sep. 30, 2016
Debt Disclosure [Abstract] |
Debt | Debt As of September 30, 2016 and December 31, 2015, our outstanding debt included in our consolidated balance sheets totaled $3.429 million and $3,360 million, respectively, which are net of debt issuance costs of $29 million and $30 million, respectively, and unamortized discounts of $6 million and $6 million, respectively. The following table sets forth the face values of our outstanding debt as of September 30, 2016 and December 31, 2015 (in thousands):
| Rate |  | Maturity |  | September 30, 2016 |  | December 31, 2015
Senior secured credit facilities: |  |  |  |  |  |  |  |  |
Term A facility(1) | L + 2.50% |  | November 2018 |  | $ | 592,500 |  |  | $ | — |
Term B facility | L + 3.00% |  | February 2019 |  | 1,420,896 |  |  | 1,721,750 |
Incremental term loan facility | L + 3.50% |  | February 2019 |  | 282,354 |  |  | 342,125 |
Term C facility | L + 3.00% |  | December 2017 |  | 49,313 |  |  | 49,313 |
New Revolver, $400 million(1) | L + 2.50% |  | November 2018 |  | — |  |  | — |
Extended Revolver, $370 million (2) | L + 2.75% |  | February 2019 |  | — |  |  | — |
Unextended Revolver, $35 million (2) | L + 3.75% |  | February 2018 |  | — |  |  | — |
Senior unsecured notes due 2016 | 8.35% |  | March 2016 |  | — |  |  | 165,000 |
5.375% senior secured notes due 2023 | 5.375% |  | April 2023 |  | 530,000 |  |  | 530,000 |
5.25% senior secured notes due 2023 | 5.25% |  | November 2023 |  | 500,000 |  |  | 500,000 |
Mortgage facility | 5.80% |  | April 2017 |  | 80,065 |  |  | 80,984 |
Capital lease obligations |  |  |  |  | 9,529 |  |  | 6,502 |
Face value of total debt outstanding |  |  |  |  | 3,464,657 |  |  | 3,395,674 |
Less current portion of debt outstanding |  |  |  |  | (115,345 | ) |  | (190,687 | )
Face value of long-term debt outstanding |  |  |  |  | $ | 3,349,312 |  |  | $ | 3,204,987 |
______________________________
(1) | The Term Loan A and the New Revolver mature in July 2021 and include an accelerated maturity of November 19, 2018 if on November 19, 2018 the Term Loan B and Incremental Term Loan Facility have not been repaid in full or refinanced with a maturity date subsequent to July 18, 2021.
(2) | Replaced on July 18, 2016 by the New Revolver.
Senior Secured Credit Facilities On July 18, 2016, Sabre GLBL entered into a series of amendments to our Amended and Restated Credit Agreement (the “Credit Agreement Amendments”) to provide for an incremental term loan under a new class with an aggregate principal amount of $600 million (the “Term Loan A”) and to replace the Prior Revolver with a new revolving credit facility totaling $400 million (the “New Revolver”), both of which mature in July 2021. Principal payments on the Term Loan A are due on a quarterly basis equal to 1.25% of its initial aggregate principal amount during the first two years of its term and 2.50% of its initial aggregate principal amount during the next three years of its term. The applicable margins for the Term Loan A and the New Revolver are 2.50% for Eurocurrency borrowings and 1.50% for base rate borrowings, with a step down to 2.25% for Eurocurrency borrowings and 1.25% for base rate borrowings if the Senior Secured Leverage Ratio (as defined in the Amended and Restated Credit Agreement) is less than 2.50 to 1.00. The Term Loan A and the New Revolver include an accelerated maturity of November 19, 2018, if on November 19, 2018 the Term Loan B and Incremental Term Loan Facility have not been repaid in full or refinanced with a maturity date subsequent to July 18, 2021. The amount of the New Revolver commitments available as a letter of credit subfacility was set at $150 million. The proceeds of $597 million, net of $3 million discount on Term Loan A, were used to repay $350 million of outstanding principal on our Term Loan B and Incremental Term Loan Facility, on a pro rata basis, repay the $120 million outstanding balance on our Prior Revolver immediately prior to the execution of the Credit Agreement Amendments, and to pay $11 million in associated financing fees. We intend to use the remaining proceeds for general corporate purposes. We recognized a $4 million loss on extinguishment of debt in connection with these transactions. We had no balance outstanding under the New Revolver as of September 30, 2016 or under the Prior Revolver as of December 31, 2015. We had outstanding letters of credit totaling $36 million and $25 million as of September 30, 2016 and December 31, 2015, respectively, which reduced our overall credit capacity under the New and Prior Revolver. Senior Unsecured Notes Due 2016 In March 2016, the remaining principal balance of $165 million of our senior unsecured notes matured. We repaid this remaining balance on the senior unsecured notes with a draw on our Prior Revolver and cash on hand.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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