Sabre Corporation Secures Over 93% of Senior Secured Notes

The early tender deadline saw holders submit $930.68 million in principal amount of the $1 billion total outstanding. Investors participating in the offer will receive a total consideration of $1,092.50 per $1,000 of principal, a figure that includes a $50 early tender premium plus accrued interest. Payment for these securities is expected to settle on September 28.

Because the tender participation exceeded the 90% threshold, the company plans to issue a formal notice of redemption for any remaining securities. This secondary move is slated for October 13, effectively cleaning up the remaining debt obligations. Sabre has also secured the necessary consents to amend the underlying indenture, with a supplemental agreement expected to be executed alongside the early settlement.