Sabre Launches Exchange Offers for 2027 Notes, Up to $379 Million
Written by Emily J. Thompson, Senior Investment Analyst
Source: PRnewswire
Updated: 1 hour ago0mins
- Bond Exchange Program: Sabre GLBL has initiated an exchange offer for its 8.625% and 11.250% Senior Secured Notes due 2027, aiming to accept up to $379 million of 2029 Notes to optimize its capital structure and reduce financing costs.
- Early Exchange Incentive: To encourage participation before December 19, Sabre GLBL is offering a $75 cash incentive for each 2027 Note tendered, which is expected to enhance the effective exchange rate of the bonds.
- Debt Restructuring: Sabre GLBL plans to refinance $375 million of existing senior secured term loans, extending maturity to 2029 and reducing the interest rate to SOFR + 625 bps, which is anticipated to improve cash flow and financial flexibility.
- Market Reaction: The bond exchange and restructuring plan is expected to close on December 8, and if successful, will strengthen Sabre's competitive position in the global travel technology market and boost investor confidence.
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Analyst Views on SABR
Wall Street analysts forecast SABR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SABR is 2.85 USD with a low forecast of 2.25 USD and a high forecast of 3.30 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 1.650
Low
2.25
Averages
2.85
High
3.30
Current: 1.650
Low
2.25
Averages
2.85
High
3.30
Rothschild & Co Redburn
Buy
to
Neutral
downgrade
$2.40
2025-08-15
Reason
Rothschild & Co Redburn
Price Target
$2.40
2025-08-15
downgrade
Buy
to
Neutral
Reason
Rothschild & Co Redburn downgraded Sabre to Neutral from Buy with a $2.40 price target.
Bernstein
Market Perform
to
Outperform
upgrade
$3
2025-08-11
Reason
Bernstein
Price Target
$3
2025-08-11
upgrade
Market Perform
to
Outperform
Reason
Morgan Stanley
Josh Baer
Equal Weight
downgrade
2025-08-10
Reason
Morgan Stanley
Josh Baer
Price Target
2025-08-10
downgrade
Equal Weight
Reason
Morgan Stanley analyst Josh Baer lowered the firm's price target on Sabre to $2.25 from $3.50 and keeps an Equal Weight rating on the shares. The company reported a Q2 miss and reduced outlook, which surprised the market since the prior guidance came just 90 days ago, the analyst tells investors in a research note. The firm believes believes Sabre must rebuild credibility with investors.
Bernstein
Market Perform
maintain
$4
2025-07-14
Reason
Bernstein
Price Target
$4
2025-07-14
maintain
Market Perform
Reason
Bernstein raised the firm's price target on Sabre to $4 from $3.50 and keeps a Market Perform rating on the shares. The fear from earlier this year--that airline profit warnings and subsequently the imposition of tariffs would spark a new industry downturn--has not come to pass, the firm notes. Traffic is still growing, and airlines are adding capacity, with only intra North American capacity failing to post meaningful year-over-year growth into summer.
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About SABR
Sabre Corporation is a technology company. The Company enables airlines, hoteliers, agencies and other partners to retail, distribute and fulfill travel worldwide. It serves customers in more than 160 countries globally. Its travel solution is a global business-to-business travel marketplace for travel suppliers and travel buyers, including a broad portfolio of software technology products and solutions for airlines. It offers third-party ground handling check-in and e-ticketing, agency air shopping, agency core services, agency managed commission, airline ancillaries, airline shopping, automated exchange and refund, booking engine, cargo revenue manager, central reservation system, channel connect, custom messaging, digital marketing, direct pay, fleet manager, gift cards and vouchers, and inventory services. The Company also provides agencies with a complete solution for shopping, booking, and fulfilling rail trips.
About the author
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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