Sabre to redeem $235 million of 8.35% notes due 2016 via new issue

By Susanna Moon

Chicago, Nov. 4 – Sabre Corp. announced plans to redeem $235 million principal amount of the $400 million 8.35% senior notes due 2016 issued by Sabre Holdings Corp., a subsidiary.

Funding for the redemption will come from proceeds of wholly owned subsidiary Sabre GLBL Inc.’s proposed offering of $500 million principal amount of senior secured notes due 2023, according to a company press release.

Proceeds also will be used for general corporate purposes, including potential acquisitions and potential repurchases of shares of Sabre’s common stock.

Sabre is a Southlake, Texas-based technology provider to the travel and tourism industry.

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