Sabre Retires $1 Billion of 11.125% Notes Due 2029

Sabre has cleared out $1 billion of high-coupon debt, with 93% of it tendered and the rest redeemed early.

In an 8-K filed October 14, the travel technology company reported the final results of a cash tender offer by its subsidiary Sabre Financial Borrower, LLC for any and all of its 11.125% Senior Secured Notes due 2029. The offer expired at 5:00 p.m. New York time on October 12. Holders validly tendered $931,583,000, about 93.16% of the notes outstanding, and settlement was completed October 13.

The remaining $68,417,000 was redeemed on October 13 at 109.250% of principal plus accrued and unpaid interest, following a notice sent to the trustee, Wilmington Trust, on September 28. Together the two steps retire the full $1 billion issue, which was created under an indenture dated December 5, 2025.

The filing does not say why Sabre made the offer or how it was funded. It lists the matter under Item 1.02 and Item 8.01 but does not name any other agreement as terminated. D.F. King & Co. acted as tender and information agent, and the report was signed by Chief Legal Officer Rochelle Boas.

For the hospitality side, Sabre supplies distribution and booking technology to hotels, so its balance sheet matters to operators who rely on its systems. Retiring notes with an 11.125% coupon removes a large interest burden, although the source of the replacement financing is not covered in this filing.