Sabre Corporation Launches Cash Tender Offer for Secured Debt
Sabre Corporation (Nasdaq: SABR) has initiated a cash tender offer by its subsidiary Sabre Financial Borrower, LLC to repurchase all of its 11.125% Senior Secured Notes due in 2029. The company is also soliciting consents for amendments that would eliminate most restrictive covenants and certain events of default under the indenture governing these notes. The tender offer includes an early tender premium, offering holders $50 per $1,000 principal amount if they submit their securities by September 25. The total consideration is set at $1,092.50 for each $1,000 of validly tendered and accepted notes before the Early Tender Deadline. The offer expires on October 12, with a final deadline to receive full early premium benefits ending in less than two weeks.
Topics: corporate finance debt restructuring