Southlake, Texas – September 18, 2026 -- Sabre Corporation (Nasdaq: SABR) has commenced additional tender offers through its wholly-owned subsidiary Sabre GLBL Inc. to repurchase outstanding securities for cash, capping the aggregate purchase price at $250 million.
Sabre GLBL sets a September 24 deadline for bondholders to tender securities
The tender offers expire at 5:00 p.m. New York City time on September 24, 2026, unless extended or terminated early. Holders must validly tender by that deadline to receive the purchase price plus accrued and unpaid interest, with settlement expected on September 28, 2026. Withdrawal rights also close at the same September 24 deadline.
A $1.35 billion note sale funds the buyback
Sabre Financial Borrower, LLC, an indirect wholly owned subsidiary of Sabre GLBL, priced an upsized offering of $1.35 billion aggregate principal amount of 9.875% Senior Secured Notes due 2032 on September 15, 2026. The proceeds are expected to be sufficient to cover the aggregate purchase price and accrued interest for all securities accepted in the current tender offers, as well as separate offers announced September 14, 2026 tied to Sabre's 11.125% Senior Secured Notes due 2029.
Acceptance is subject to proration and financing conditions
Tenders will be accepted according to Acceptance Priority Levels up to the $250 million cap, with proration applied if a series is oversubscribed relative to remaining funds. Any excess principal amount below $1,000 will be accepted or rejected at Sabre GLBL's discretion. Completion of the tender offers hinges on the closing of the financing transaction, though Sabre GLBL retains the right to waive that condition subject to applicable law.
BofA Securities and D.F. King manage the transaction
BofA Securities is serving as dealer manager for the tender offers, while D.F. King & Co., Inc. acts as tender and information agent. Davis Polk & Wardwell LLP is legal counsel to Sabre, and Latham & Watkins LLP is representing BofA Securities. After the offers close, Sabre GLBL may pursue additional purchases of the securities through open-market transactions, private deals, or redemptions permitted under their terms.