Sabre Corp issued $1.35 billion in 9.875% Senior Secured Notes due October 2032 via an SPV subsidiary, with proceeds used to refinance intercompany debt and fund cash tender offers for existing bonds. Sabre GLBL repurchased approximately $251.9 million of its 10.750% Senior Secured Notes due 2029 at a purchase price of roughly $260 million. Concurrently, Sabre Financial repurchased $930.7 million (93.07%) of its 11.125% Senior Secured Notes due 2029 for approximately $1.046 billion and obtained consents to amend the indenture, eliminating restrictive covenants. The remaining $69.3 million of these notes will be redeemed on October 13, 2026, at a price of 109.25% plus accrued interest. This complex refinancing and debt repurchase activity materially alters the company's capital structure and leverage profile. Sabre operates in the travel technology industry, providing software and data solutions for airlines, hotels, and agencies.
