secwatch.observer — SEC 8-K summary
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Issuer:     Sabre Corp (SABR)
CIK:        0001597033
Form:       8-K
Filed at:   2025-11-25T23:59:59+00:00
Accession:  0001193125-25-297273
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sabre prices $1B 11.125% senior secured notes due 2029; launches exchange offers to extend debt maturities
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- $1B aggregate principal of 11.125% Senior Secured Notes due 2029 issued by subsidiary Sabre Financial, closing expected Dec 5, 2025.
- Exchange offers commenced for up to $332M of 8.625% notes due 2027, $46M of 11.25% notes due 2027, and up to $379M of 10.75% notes due 2029.
- Holders tendering by Dec 4 get early exchange premium: $75 cash for 2027 notes, $60 cash for 2029 notes; new 10.75% notes due 2030.
- Proceeds from notes and intercompany loan will fund repurchase/refinancing of existing debt and term loan refinancing.
- Exchange offers subject to minimum $300M of new notes issued and consummation of SPV notes private offering; conditions may be waived.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1597033/000119312525297273/0001193125-25-297273-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1597033/000119312525297273/d39324d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-297273

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