Recent Updates — SABR
Sabre Corp announced the pricing of an upsized $1.35 billion offering of 9.875% Senior Secured Notes due October 15, 2032, maturing in 2032 with semi-annual interest payments and a closing expected on September 28, 2026. Proceeds will fund the repayment of existing intercompany loans and facilitate cash tender offers for outstanding debt. Sabre Financial Borrower LLC commenced a tender offer to purchase all $1 billion of its 11.125% Senior Secured Notes due 2029 at up to $1,042.50 per $1,000 principal amount, including an early tender premium, with consent solicitation for indenture amendments. Concurrently, Sabre GLBL Inc. launched tender offers for up to $250 million of its senior secured notes due 2029 and 2030 at prices ranging from $975.00 to $992.50 per $1,000 principal amount. These transactions aim to refinance existing indebtedness and modify restrictive covenants. Sabre operates in the travel technology industry, providing AI-driven solutions for airlines, hotels, and agencies.
Sabre Corp announced an amendment to its accounts receivable securitization facility effective September 30, 2026. The transaction increases the facility size from $115 million to $130 million and extends the maturity date to September 28, 2029. Sabre Asia Pacific PTE. Ltd. is added as an originator under the agreement. The facility consists of a $120 million tranche provided by affiliates of Centerbridge Partners and a $130 million revolving tranche from PNC Bank. Borrowings bear interest based on SOFR plus a 275 basis point fee for Class A lenders and 625 basis points for Class B lenders. The company operates in the travel technology industry, providing software solutions for airlines, hotels, and travel agencies.
Sabre Corporation reported second quarter 2026 results on August 6, 2026, for the period ended June 30, 2026. Revenue increased 4% to $712 million, driven by a 6% rise in marketplace revenue to $577 million and an 11% increase in hotel-related revenue. Operating income rose 4% to $93 million, while normalized Adjusted EBITDA grew 19% to $151 million. The company reported a net loss attributable to common stockholders of $36 million, compared to a $256 million loss in the prior year period. Sabre generated positive free cash flow of $10 million and ended the quarter with $697 million in cash. Management raised full-year 2026 guidance for Pro Forma Adjusted EBITDA and Free Cash Flow while reaffirming revenue and air distribution bookings growth targets. The company operates in the travel technology industry, providing software solutions and data services to airlines, hotels, and travel agencies.