Sabre (SABR) said Friday that it has updated its exchange offers, increasing the maximum exchange amount to $800 million from $500 million, with other terms remaining intact.
The company also provided initial results of its exchange offers, where its Sabre GLBL unit is offering to exchange certain outstanding senior secured notes for up to $800 million in new notes. The exchange involves swapping the 11.250% senior secured notes due 2027 and 8.625% senior secured notes due 2027 for new 10.750% senior secured notes due 2029, under the terms outlined in the Nov. 7 offering circular.
The company added Sabre GLBL will exchange $775 million of its existing senior secured term loans for new loans maturing in November 2029.
The exchange is set to close on Monday, subject to certain closing conditions, the company said.
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