Sabre Corp's Tender Offers Exceed $336M

By Bobby Samwell • Thursday, June 05 15:24 • Permanent Link

Sabre Corporation has announced the early tender results of its cash tender offers by its subsidiary, Sabre GLBL Inc. The tender offers, which will expire on June 17, 2025, have seen the aggregate purchase price of all securities validly tendered and not validly withdrawn exceed $336.375 million.

As of the early tender deadline on June 3, 2025, the following principal amounts of securities were tendered and not validly withdrawn:

8.625% senior secured notes due 2027: $563,327,000, representing 85.77% of outstanding securities, with an aggregate principal amount expected to be accepted for purchase of $325,000,000.
7.375% senior secured notes due 2025: $22,559,000, representing 96.43% of outstanding securities, with no aggregate purchase price expected.
11.250% senior secured notes due 2027: $31,986,000, representing 69.82% of outstanding securities, with no aggregate purchase price expected.

The 8.625% senior secured notes due 2027 will be accepted on a pro rata basis and will be subject to a proration factor of approximately 57.75%. The early settlement date for the accepted securities is expected to be June 4, 2025.

The tender offers remain subject to certain conditions, including financing, and Sabre GLBL reserves the right to terminate, waive conditions, extend deadlines, or amend the terms and conditions of the offers.

The complete terms and conditions of the tender offers are available in the offer to purchase, and investors with questions can contact the dealer manager, BofA Securities, or the tender and information agent, D.F. King & Co., Inc.

It's important to note that this press release is for informational purposes only and does not constitute an offer to buy or a solicitation of an offer to sell any of the securities.

As the tender offers progress, stakeholders will be closely monitoring the outcome, particularly the acceptance and purchase of the 8.625% senior secured notes due 2027, given the high percentage of outstanding securities tendered. Following these announcements, the company's shares moved 2.04%, and are now trading at a price of $2.745. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.