Sabre issues $1.35B of 9.875% secured notes due 2032; repurchases $930.7M of 11.125% 2029 SPV notes

Sabre Corp

Sabre Financial Borrower issued $1.35B of 9.875% Senior Secured Notes due 2032, secured by first-priority liens and guaranteed by Sabre Financing and, up to $400M, certain foreign units.
Sabre GLBL repurchased $251,888,000 of its 10.750% notes due 2029 for a total $260,002,641.89; no 10.750% 2030 or 11.125% 2030 notes were accepted.
Sabre Financial repurchased $930,682,000 (93.07%) of its 11.125% notes due 2029 for $1,046,393,563.80, including $1,016,770,085 principal/premium and $29,623,478.80 interest.
Remaining $69,318,000 of 2029 SPV Notes will be redeemed Oct. 13, 2026 at 109.250%; total redemption price $78,257,615.13, and the 2029 indenture was satisfied and discharged.
The SPV Notes indenture limits Sabre Financial's ability to pay dividends, which may affect Sabre common stockholders' ability to receive dividends.

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