© Reuters.
SOUTHLAKE, Texas – Sabre (NASDAQ:) Corporation (NASDAQ: SABR), a prominent technology provider for the global travel industry, has completed a debt exchange through its subsidiary, Sabre GLBL Inc. On Thursday, Sabre GLBL exchanged approximately $36.2 million of its 7.375% Senior Secured Notes due 2025 and roughly $7.4 million of its 9.250% Senior Secured Notes due 2025 for new 8.625% Senior Secured Notes due 2027, totaling about $50.1 million, plus approximately $256,000 in cash covering accrued interest.
This transaction was conducted with a select group of existing note holders who are qualified institutional buyers or non-U.S. persons, based on private exchange agreements. The newly issued 2027 Notes are an additional issuance to the approximately $853 million of the same notes issued on September 7, 2023, and are fungible with the existing 2027 Notes.
The completion of this exchange leaves the outstanding principal amount of the 2025 notes at approximately…