Sabre GLBL launches tender offers for up to $250M in secured notes

Sabre Corporation (Nasdaq: SABR) announced that its wholly-owned subsidiary Sabre GLBL Inc. has commenced cash tender offers to purchase up to $250 million in aggregate principal of existing senior secured notes, according to a press release dated Sept. 15, 2026.

The tender offers cover three series of securities: 10.750% Senior Secured Notes due 2029, with $445.7 million outstanding, offered at $992.50 per $1,000 principal; 10.750% Senior Secured Notes due 2030, with $469.8 million outstanding, offered at $980.00 per $1,000 principal; and 11.125% Senior Secured Notes due 2030, with $1.325 billion outstanding, offered at $975.00 per $1,000 principal.

The offers are subject to acceptance priority levels, with the 2029 notes holding the highest priority. If remaining funds are insufficient to purchase all securities in a given series, proration will apply.

The tender offers are set to expire at 5:00 p.m. New York City time on Sept. 24, 2026, with a settlement date expected on Sept. 28, 2026. Holders may withdraw tendered securities up to the expiration date.

The offers are conditioned on the completion of a separate financing transaction in which Sabre Financial Borrower, LLC, an indirect subsidiary of Sabre GLBL, priced an upsized offering of $1.35 billion in aggregate principal of 9.875% Senior Secured Notes due 2032. Sabre GLBL stated that proceeds are expected to be sufficient to fund the aggregate purchase price and accrued interest for all accepted securities, including those covered by related tender offers announced Sept. 14, 2026, for 11.125% Senior Secured Notes due 2029.

BofA Securities is serving as dealer manager for the tender offers. Davis Polk & Wardwell LLP is acting as legal counsel to Sabre, and Latham & Watkins LLP is acting as legal counsel to BofA Securities.

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