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.
Sabre Corporation Secures Over 93% of Senior Secured Notes
With more than 93% of its 11.125% senior secured notes due 2029 validly tendered, Sabre Financial Borrower has successfully cleared the path for a corporate debt restructuring. The company confirmed the early results on September 25, setting the stage for a full redemption of the remaining outstanding notes by mid-October.
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.
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