#USA #Sabre Corporation #Sabre GLBL #Southlake #Financial Offers

Sabre Corporation's Cash Tender Offers: An Overview

On June 4, 2025, Sabre Corporation (Nasdaq: SABR) disclosed the early tender results for its cash tender offers via its wholly-owned subsidiary, Sabre GLBL Inc. This announcement comes as part of Sabre GLBL's effort to buy back certain securities, with the offers set to expire on June 17, 2025, at 11:59 PM New York City time. In recent developments, the total amount validly tendered prior to the early deadline reached an impressive $336.375 million, surpassing the expected maximum purchase price. Consequently, any securities submitted after the early tender deadline will not be accepted for purchase.

Details of the Tender Offers

Sabre GLBL’s tender offers are detailed in the 'Offer to Purchase' document issued on May 20, 2025. These offers are targeted at several series of senior secured notes, reflecting a commitment to reduce debt and improve financial stability. As of the early tender deadline on June 3, 2025, Sabre has reported the following figures:

• - 8.625% Senior Secured Notes due 2027: 85.77% (total tendered: $563.3 million out of $656.8 million outstanding)
• - 7.375% Senior Secured Notes due 2025: 96.43% (total tendered: $22.6 million out of $23.4 million outstanding)
• - 11.250% Senior Secured Notes due 2027: 69.82% (total tendered: $32 million out of $45.8 million outstanding)

The Offers are conducted under specified conditions outlined in the purchase offers. Withdrawal rights for the tendered securities have expired as of the early deadline, meaning any securities validly tendered can no longer be withdrawn unless legally required otherwise.

Allocation and Acceptance

Given that the total principal amount tendered for the 8.625% Notes exceeded the Aggregate Purchase Price cap, the purchase will occur on a pro-rata basis, meaning not all securities will be purchased in full. Holders of the securities must understand this allocation system as they move forward with their decisions.

The total consideration for holders who successfully tender their 8.625% notes includes an early tender premium of $50 per $1,000 principal amount. This means that holders who complete the process will also receive accrued interest from the last interest payment date through to the settlement date, enhancing the value of the transaction for those sellers.

Further Conditions and Guidance

The tender offers are subject to various conditions, including necessary financing for the offers. Sabre GLBL maintains the right to terminate any aspects of the offers, waive conditions, or modify the terms entirely if deemed necessary, ensuring flexibility in their financial strategy. Interested holders may contact BofA Securities for queries related to the offers and potential next steps, ensuring informed decisions can be made prior to the final deadline.

About Sabre Corporation

Sabre Corporation is a prominent technology solutions provider based in Southlake, Texas, specializing in the travel industry. It harnesses innovation to provide comprehensive solutions to airlines, hotels, travel agencies, and partners around the globe. Contact details for further inquiries about the tender offers are available, highlighting Sabre's commitment to transparent communications with its stakeholders.

In summary, Sabre's recent announcement about the cash tender offers reflects robust participation that aims to streamline corporate financing and enhance operational flexibility as it advances its strategic goals. Stakeholders are encouraged to review the 'Offer to Purchase' carefully for all necessary details and further guidance.