Loan & DebtMay 19, 2026, 04:38 PM
Sabre GLBL Issues $150M 7.00% Exchangeable Notes Due 2031
AI Summary
Sabre GLBL Inc., a subsidiary of Sabre Corporation, issued $150.0 million in 7.00% Exchangeable Senior Notes due 2031. The proceeds will primarily be used to repurchase $100.0 million of existing 7.32% exchangeable senior notes due 2026, with the goal of retiring all existing notes and incurring no incremental indebtedness. The new notes are senior, unsecured obligations guaranteed by Sabre and Sabre Holdings, maturing on May 15, 2031.
Key Highlights
- Sabre GLBL issued $150.0 million aggregate principal amount of 7.00% Exchangeable Senior Notes due 2031.
- Proceeds will fund the repurchase of $100.0 million of existing 7.32% exchangeable senior notes due 2026.
- The transaction aims for no incremental indebtedness by retiring remaining existing notes.
- New notes mature on May 15, 2031, with interest payable semi-annually at 7.00% per year.
- Initial exchange price is approximately $2.24 per share, a 30.00% premium over the May 13, 2026 closing price of $1.72.
- The issuance was a private placement, potentially leading to 67,084,080 shares upon full exchange.
Price Impact
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