---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-316195"
form_type: "8-K"
ticker: "SABR"
cik: "0001597033"
company_name: "Sabre Corp"
filed_at: "2025-12-11T23:59:59+00:00"
generated_at: "2026-05-16T13:30:10.011109+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Sabre Corp completes $1B debt issuance, exchange offer, and term loan refinancing

## Summary
- Issued $1B aggregate principal of 11.125% senior secured notes due 2029 via subsidiary Sabre Financial Borrower.
- Exchanged ~$659M of existing notes for ~$468M of new 10.750% senior secured notes due 2030.
- Refinanced term loans into $375M new term loans, extending maturity to July 2029 at SOFR+6.25%.
- SPV notes structurally senior to Sabre GLBL debt; covenants restrict dividends on common stock.
- Proceeds from SPV notes lent to Sabre GLBL to refinance existing obligations; no cash from exchange.

## SEC filing metadata
- accession: 0001193125-25-316195
- form_type: 8-K
- ticker: SABR
- cik: 0001597033
- company_name: Sabre Corp
- filed_at: 2025-12-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1597033/000119312525316195/0001193125-25-316195-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1597033/000119312525316195/d55838d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-316195
- JSON: https://secwatch.observer/filing/0001193125-25-316195.json
- Plain text: https://secwatch.observer/filing/0001193125-25-316195.txt

## Key facts
- Debt Financings
  Sabre Corp incurred senior notes of $1 billion with Wilmington Trust, National Association at 11.125% per year maturing mature on June 15, 2029.
  - Instrument: senior notes
  - Principal: $1 billion
  - Counterparty: Wilmington Trust, National Association
  - Rate: 11.125% per year
  - Maturity: mature on June 15, 2029
  - Event: incurrence
  source text: On December 5, 2025 (the “SPV Notes Issue Date”), Sabre Financial Borrower, LLC (“Sabre Financial”), an indirect wholly-owned subsidiary of Sabre Corporation (“Sabre” or the “Company”), Sabre Financing Holdings LLC (“Sabre Financing”), Sabre Financial’s direct parent company, certain of Sabre’s Luxembourg subsidiaries and Wilmington Trust, National Association, as trustee and collateral agent, entered into an indenture (the “SPV Notes Indenture”) governing Sabre Financial’s newly issued 11.125% senior secured notes due 2029 (the “SPV Notes”). The SPV Notes were issued in an aggregate principal amount of $1 billion, will pay interest semiannually in arrears on June 15 and December 15 of each year, beginning on June 15, 2026, at a rate of 11.125% per year, and will mature on June 15, 2029.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1597033/000119312525316195/0001193125-25-316195-index.htm
- Material Agreements
  Sabre Corp entered into SPV Notes Indenture with Wilmington Trust, National Association valued at $1 billion (effective 2025-12-05).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Wilmington Trust, National Association
  - Value: $1 billion
  - Effective: 2025-12-05
  source text: On December 5, 2025 (the “SPV Notes Issue Date”), Sabre Financial Borrower, LLC (“Sabre Financial”), an indirect wholly-owned subsidiary of Sabre Corporation (“Sabre” or the “Company”), Sabre Financing Holdings LLC (“Sabre Financing”), Sabre Financial’s direct parent company, certain of Sabre’s Luxembourg subsidiaries and Wilmington Trust, National Association, as trustee and collateral agent, entered into an indenture (the “SPV Notes Indenture”) governing Sabre Financial’s newly issued 11.125% senior secured notes due 2029 (the “SPV Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1597033/000119312525316195/0001193125-25-316195-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.