The company is targeting three specific debt instruments: 10.750% notes due 2029, 10.750% notes due 2030, and 11.125% notes due 2030. Each series carries a distinct purchase price, starting at $992.50 per $1,000 of principal for the 2029 notes down to $975.00 for the 11.125% 2030 notes. Holders have until 5:00 p.m. New York City time on September 24, 2026, to tender their securities to remain eligible for the purchase price and accrued interest.
Sabre Corporation Launches Cash Tender Offers to Manage Secured Debt
Sabre GLBL Inc. has initiated a series of cash tender offers to repurchase up to $250 million of its outstanding senior secured notes. This debt restructuring effort, announced September 15, prioritizes specific note series due between 2029 and 2030 based on a tiered acceptance structure.
Funding for this initiative is tied to a concurrent financing transaction involving an upsized $1.35 billion offering of 9.875% senior secured notes due 2032. While the tender offers are conditional upon the successful completion of this financing, Sabre GLBL retains the discretion to waive such conditions. BofA Securities is acting as the dealer manager, and D.F. King & Co. is serving as the tender and information agent. Should valid tenders exceed the $250 million aggregate limit, the company will apply a proration factor to determine the final acceptance amounts.
Comments (0)
No comments yet. Be the first!