Connect with us

Technology

FORECLOSURE ACTIVITY IN FIRST HALF OF 2024 DOWN FROM PREVIOUS YEAR

Published

on

U.S. Foreclosure Starts Decrease 3.5 Percent in First Six Months of 2024; Average Days to Complete a Foreclosure Up Second Quarter in a Row; June and Q2 2024 Foreclosure Activity Post Annual Declines

IRVINE, Calif., July 11, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property and real estate data, today released its Midyear 2024 U.S. Foreclosure Market Report, which shows there were a total of 177,431 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2024. That figure is down 4.4 percent from the same time period a year ago but up 7.8 percent from the same time period two years ago.

Historical First Half US Foreclosure Activity Chart

“In contrast to the first half of 2023, foreclosure activity across the United States experienced a decline in the first half of 2024,” stated Rob Barber, CEO for ATTOM. “In addition, U.S. foreclosure starts also decreased by 3 percent in the first six months of 2024. These shifts could suggest a potential stabilization in the housing market; however, monitoring these evolving patterns remains crucial to understanding the full impact on the real estate sector.”

States that saw the greatest increases in foreclosure activity compared to a year ago in the first half of 2024 included South Dakota (up 93 percent); North Dakota (up 86 percent); Kentucky (up 73 percent); Massachusetts (up 46 percent); and Idaho (up 30 percent).

New Jersey, Illinois, and Florida post highest state foreclosure rates
Nationwide, 0.13 percent of all housing units (one in every 794) had a foreclosure filing in the first half of 2024.

States with the highest foreclosure rates in the first half of 2024 were New Jersey (0.21 percent of housing units with a foreclosure filing); Illinois (0.21 percent); Florida (0.20 percent); Nevada (0.19 percent); and South Carolina (0.19 percent).

Other states with first-half foreclosure rates among the 10 highest nationwide were Maryland (0.19 percent); Connecticut (0.19 percent); Delaware (0.18 percent); Ohio (0.18 percent); and Indiana (0.16 percent).

Highest metro foreclosure rates in Lakeland, Columbia, and Atlantic City
Among the 224 metropolitan statistical areas with a population of at least 200,000, those with the highest foreclosure rates in the first half of 2024 were Lakeland, Florida (0.32 percent of housing units with foreclosure filings); Columbia, South Carolina (0.31 percent); Atlantic City, New Jersey (0.28 percent); Cleveland, Ohio (0.27 percent); and Spartanburg, South Carolina (0.27 percent).

Other major metro areas with foreclosure rates ranking among the top 10 highest in the first half of 2024 were Jacksonville, Florida (0.25 percent of housing units with a foreclosure filing); Bakersfield, California (0.25 percent); Elkhart, Indiana (0.24 percent); Orlando, Florida (0.24 percent); and Chicago, Illinois (0.24 percent).

Foreclosure starts down 3.5 percent from last year
A total of 130,369 U.S. properties started the foreclosure process in the first six months of 2024, down 3.5 percent from the first half of last year and down 32 percent from the first half of 2020.

States that saw the greatest number of foreclosures starts in the first half of 2024 included Texas (15,375 foreclosure starts); Florida (15,251 foreclosure starts); California (14,964 foreclosure starts); New York (7,523 foreclosure starts); and Illinois (7,240 foreclosure starts).

Bank repossessions decline in first half of 2024 from last year
Lenders foreclosed (REO) on a total of 18,726 U.S. properties in the first six months of 2024, down 17 percent from the first half of 2023 and down 10 percent from the first half of 2022, but up 92 percent from the first half of 2021.

States that posted the greatest number of REOs in the first half of 2024 included California (1,575 REOs); Pennsylvania (1,568 REOs); Illinois (1,540 REOs); Michigan (1,432 REOs); and Texas (1,197 REOs).

Q2 2024 foreclosure activity below pre-recession averages in 79 percent of major markets
There were a total of 89,466 U.S. properties with a foreclosure filings during the second quarter of 2024, down 6 percent from the previous quarter and down 8 percent from a year ago.

The national foreclosure activity total in Q2 2024 was 68 percent below the pre-recession average of 278,912 per quarter from Q1 2006 to Q3 2007.

Second quarter foreclosure activity was below pre-recession averages in 177 out 224 (79 percent) metropolitan statistical areas with a population of at least 200,000 and sufficient historical foreclosure data, including New York, Los Angeles, Chicago, Dallas, Houston, Miami, Atlanta, San Francisco, RiversideSan Bernardino, Phoenix, and Detroit.

Metro areas with second quarter foreclosure activity above pre-recession averages included Honolulu, HI; Richmond, VA; Baltimore, MD; Virginia-Beach, VA; Albany, New York; and Montgomery, AL.

Average time to foreclose increases for second quarter in a row
Properties foreclosed in Q2 2024 had been in the foreclosure process an average of 815 days. That figure was up 11 percent from the previous quarter and down 33 percent from Q2 2023.

Average Days to Complete Foreclosure

States with the longest average foreclosure timelines for homes foreclosed in Q2 2024 were Louisiana (3,686 days); Hawaii (2,597 days); New York (2,034 days); Georgia (1,929 days); and Nevada (1,852 days).

States with the shortest average foreclosure timelines for homes foreclosed in Q2 2024 were New Hampshire (82 days); Texas (147 days); Minnesota (151 days); Oregon (206 days); and Montana (212 days).

June 2024 Foreclosure Activity High-Level Takeaways

Nationwide in June 2024, one in every 5,071 properties had a foreclosure filing.States with the highest foreclosure rates in June 2024 were Illinois (one in every 3,041 housing units with a foreclosure filing); New Jersey (one in every 3,042 housing units); Florida (one in every 3,202 housing units); South Carolina (one in every 3,346 housing units); and Maryland (one in every 3,486 housing units).18,574 U.S. properties started the foreclosure process in June 2024, down 17 percent from the previous month and down 22.7 percent from June 2023.Lenders completed the foreclosure process on 2,891 U.S. properties in June 2024, up .4 percent from the previous month and down 10 percent from June 2023.

U.S. Foreclosure Market Data by State – Jan to Jun 2024

Rate
Rank

State Name

Total Properties w/
FC Filings

% Housing
Units

1/Every X
HU

%∆ from
Jan-June 23

%∆ from
Jan-June 22

U.S. Total

177,431

0.13

794

-4.39

7.81

19

Alabama

2,565

0.11

895

14.56

3.64

36

Alaska

207

0.07

1,534

-33.65

29.38

23

Arizona

3,052

0.10

1,015

-0.84

-4.83

26

Arkansas

1,130

0.08

1,214

-17.46

41.96

13

California

19,013

0.13

759

6.13

16.36

34

Colorado

1,784

0.07

1,401

-18.13

-23.17

7

Connecticut

2,860

0.19

535

17.36

44.52

8

Delaware

826

0.18

547

-17.73

-8.53

District of
Columbia

659

0.19

532

32.86

565.66

3

Florida

20,090

0.20

494

8.42

13.99

15

Georgia

5,289

0.12

837

-16.15

-7.71

33

Hawaii

408

0.07

1,375

-21.08

4.08

30

Idaho

596

0.08

1,273

29.57

96.05

2

Illinois

11,336

0.21

479

-16.76

-19.52

10

Indiana

4,778

0.16

614

-9.06

-0.91

18

Iowa

1,611

0.11

880

-13.39

2.55

47

Kansas

485

0.04

2,636

-19.57

6.83

27

Kentucky

1,644

0.08

1,216

72.51

100.49

20

Louisiana

2,224

0.11

935

1.23

18.74

28

Maine

600

0.08

1,236

8.11

-14.77

6

Maryland

4,762

0.19

532

-18.71

62.30

17

Massachusetts

3,411

0.11

879

45.64

74.56

16

Michigan

5,210

0.11

879

-26.50

-11.89

25

Minnesota

2,153

0.09

1,158

-7.56

1.27

39

Mississippi

811

0.06

1,634

-22.84

-14.18

38

Missouri

1,730

0.06

1,616

-19.08

-33.36

48

Montana

141

0.03

3,670

-30.54

-27.32

43

Nebraska

446

0.05

1,901

-30.64

-23.76

4

Nevada

2,495

0.19

516

3.87

10.45

35

New Hampshire

424

0.07

1,510

-6.19

5.74

1

New Jersey

8,076

0.21

465

-11.19

-12.00

29

New Mexico

741

0.08

1,273

-33.42

-3.52

12

New York

11,312

0.13

751

-7.23

47.43

24

North Carolina

4,530

0.10

1,046

-20.87

-7.87

45

North Dakota

192

0.05

1,939

86.41

131.33

9

Ohio

9,236

0.18

569

-12.42

-16.25

22

Oklahoma

1,734

0.10

1,010

-23.71

-18.21

41

Oregon

1,002

0.06

1,815

-22.80

53.68

14

Pennsylvania

7,141

0.12

806

0.92

29.11

44

Rhode Island

253

0.05

1,909

-29.92

-18.39

5

South Carolina

4,568

0.19

517

1.26

0.00

50

South Dakota

85

0.02

4,625

93.18

97.67

31

Tennessee

2,329

0.08

1,310

-7.62

17.39

11

Texas

15,610

0.13

747

12.55

35.42

21

Utah

1,214

0.10

958

16.17

18.79

49

Vermont

89

0.03

3,766

25.35

102.27

32

Virginia

2,747

0.08

1,320

-18.99

-7.97

42

Washington

1,761

0.05

1,826

13.54

32.01

46

West Virginia

353

0.04

2,434

-18.10

49.58

40

Wisconsin

1,543

0.06

1,772

-11.07

-14.99

37

Wyoming

175

0.06

1,562

-26.78

-10.26

Report methodology
The ATTOM U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the ATTOM Data Warehouse during the month and quarter. Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter. Data is collected from more than 3,000 counties nationwide, and those counties account for more than 99 percent of the U.S. population. ATTOM’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). For the annual, midyear and quarterly reports, if more than one type of foreclosure document is received for a property during the timeframe, only the most recent filing is counted in the report. The annual, midyear, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month.

About ATTOM
ATTOM provides premium property data to power products that improve transparency, innovation, efficiency, and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloudbulk file licensesproperty data APIsreal estate market trendsproperty navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications– AI-Ready Solutions

Media Contact:
Megan Hunt
megan.hunt@attomdata.com 

Data and Report Licensing:
datareports@attomdata.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/foreclosure-activity-in-first-half-of-2024-down-from-previous-year-302194291.html

SOURCE ATTOM

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Sabre Corporation Announces Upsize and Pricing of Senior Secured Notes Offering

Published

on

By

SOUTHLAKE, Texas, May 20, 2025 /PRNewswire/ — Sabre Corporation (“Sabre”) (Nasdaq: SABR) today priced an upsized offering by its wholly-owned subsidiary Sabre GLBL Inc. (“Sabre GLBL”) of $1,325,000,000 (upsized from $975,000,000) aggregate principal amount of 11.125% Senior Secured Notes due 2030 (the “Secured Notes”). The offering of the Secured Notes is expected to close on June 4, 2025, subject to customary closing conditions.

The Secured Notes will pay interest semi-annually in arrears, at a rate of 11.125% per year, and will mature on July 15, 2030. The Secured Notes will be guaranteed by Sabre Holdings Corporation and each subsidiary that borrows under, or guarantees, Sabre GLBL’s senior secured credit facilities (subject to certain exceptions). The Secured Notes and the related note guarantees will be secured, subject to permitted liens, by a first-priority security interest in substantially all property and assets of Sabre GLBL and the guarantors, subject to customary exclusions.

Sabre expects to use a portion of the net proceeds from the sales of the Secured Notes to prepay Sabre GLBL’s outstanding borrowings under an intercompany loan agreement with Sabre Financial Borrower, LLC (which would apply them toward full prepayment of Sabre Financial Borrower, LLC’s senior secured term loan due 2028), and remaining amounts will be used to prepay, redeem or repurchase other indebtedness in the open market, in privately negotiated transactions, through tender or exchange offers, or otherwise, including pursuant to the terms of the agreements governing such indebtedness. In connection with the upsize of the offering, Sabre GLBL intends to launch tender offers (the “Tender Offers”) for certain of its existing senior secured notes, subject to a maximum aggregate purchase amount of $336,375,000 (as such amount may be subsequently amended in Sabre GLBL’s sole discretion).

The Secured Notes and the related note guarantees have been offered in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act. The Secured Notes and the related note guarantees have not been, and will not be, registered under the Securities Act or any state securities laws. The Secured Notes and the related note guarantees may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act and applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Secured Notes or any other security, and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. Any offers of the Secured Notes were made only by means of a private offering circular.

The Tender Offers referenced in this press release do not constitute offers to buy or the solicitation of offers to sell securities in any jurisdiction or in any circumstances in which such offers are unlawful. The full details of the Tender Offers, including complete instructions on how to tender securities, are included in the offers to purchase, dated May 20, 2025 (as they may be amended or supplemented, collectively, the “Offer to Purchase”). Holders are strongly encouraged to read carefully the Offer to Purchase because it will contain important information.

About Sabre Corporation

Sabre Corporation is a leading technology company that takes on the biggest opportunities and solves the most complex challenges in travel. Sabre harnesses speed, scale and insights to build tomorrow’s technology today – empowering airlines, hoteliers, agencies and other partners to retail, distribute and fulfill travel worldwide. Headquartered in Southlake, Texas, USA, with employees across the world, Sabre serves customers in more than 160 countries globally.

Forward-Looking Statements

Statements made in this press release that are not descriptions of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on management’s current expectations and assumptions and are subject to risks and uncertainties. Any statements that are not historical or current facts are forward-looking statements, including those related to the terms, timing and completion of the offering of the Secured Notes and the use of the proceeds therefrom. In many cases, you can identify forward-looking statements by terms such as “expect,” “guidance,” “outlook,” “trend,” “pro forma,” “on course,” “on track,” “target,” “potential,” “benefit,” “goal,” “believe,” “plan,” “confident,” “anticipate,” “indicate,” “trend,” “position,” “optimistic,” “will,” “forecast,” “continue,” “strategy,” “estimate,” “project,” “may,” “should,” “would,” “intend,” or the negative of these terms or other comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. There can be no assurance that the offering of the Secured Notes will be consummated on the terms described herein or at all. More information about potential risks and uncertainties that could affect our business and results of operations is included in the “Risk Factors” and “Forward-Looking Statements” sections in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 20, 2025, our Quarterly Report on Form 10-Q filed with the SEC on May 7, 2025, and in our other filings with the SEC. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, outlook, guidance, results, actions, levels of activity, performance or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. Unless required by law, we undertake no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made.

SABR-F

Media Contacts:

Cassidy Smith-Broyles
Cassidy.Smith-Broyles@sabre.com
sabrenews@sabre.com

Investors:

Jim Mathias
Jim.Mathias@sabre.com
sabre.investorrelations@sabre.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/sabre-corporation-announces-upsize-and-pricing-of-senior-secured-notes-offering-302461226.html

SOURCE Sabre Corporation

Continue Reading

Technology

The Inner Circle acknowledges, Colin M. O’Hearn as a Pinnacle Professional Member Inner Circle of Excellence

Published

on

By

FRAMINGHAM, Mass., May 20, 2025 /PRNewswire/ — Prominently featured in The Inner Circle, Colin M. O’Hearn is acknowledged as a Pinnacle Professional Member Inner Circle of Excellence for his contributions in Construction and Demolition Industry.

Colin M. O’Hearn, a prominent figure in the construction and demolition industry, is making significant strides as the Chief Executive Officer and Owner of Kinetic Demolition & Engineering LLC. With a focus on heavy civil demolition, particularly bridge demolition for Department of Transportation projects, Mr. O’Hearn has established himself as a respected leader in the field.

Since its inception in 2022, Kinetic Demolition & Engineering LLC has been at the forefront of numerous bridge, building, and heavy civil demolition projects across New England and eastern New York. Under Mr. O’Hearn’s leadership, the company has successfully completed projects such as the French King Bridge, Holmes Road Bridge, and the I-287 over MNRR & Midland Avenue, showcasing its expertise and commitment to excellence.

A graduate of the University of Massachusetts Lowell, Mr. O’Hearn holds a Bachelor of Science in Civil and Environmental Engineering and a Master of Science in Geotechnical Engineering. His academic background, combined with over a decade of industry experience, has propelled him to success in the construction and demolition sector.

Mr. O’Hearn is affiliated with esteemed organizations such as the American Society of Civil Engineers, further demonstrating his commitment to professional development and industry standards.

Throughout his career, Mr. O’Hearn has been involved in significant demolition projects, including the I-10 Bayway project, showcasing his expertise and leadership capabilities. He is also a co-author of several industry-related works, contributing to the advancement of knowledge in the field.

Looking ahead, Mr. O’Hearn’s vision for Kinetic Demolition & Engineering LLC is one of continued growth and success. He aims to expand the company’s operations and workload while remaining dedicated to infrastructure development and environmental considerations.

Contact: Katherine Green, 516-825-5634, editorialteam@continentalwhoswho.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-inner-circle-acknowledges-colin-m-ohearn-as-a-pinnacle-professional-member-inner-circle-of-excellence-302461169.html

SOURCE The Inner Circle

Continue Reading

Technology

Sabre Corporation Announces Cash Tender Offers by Sabre GLBL Inc. for Existing Secured Debt

Published

on

By

SOUTHLAKE, Texas, May 20, 2025 /PRNewswire/ — Sabre Corporation (“Sabre”) (Nasdaq: SABR) today announced commencement of tender offers (the “Tender Offers”) by its wholly-owned subsidiary Sabre GLBL Inc. (“Sabre GLBL”) to purchase for cash, upon the terms and subject to the conditions described in the Offer to Purchase (as defined below), up to a principal amount of its securities set forth in the table below (collectively, the “Securities”) that would not result in the Aggregate Purchase Price (as defined below) exceeding $336.375 million (subject to increase or decrease by Sabre GLBL in its sole discretion, the “Aggregate Maximum Tender Amount”). The following table sets forth certain terms of the Tender Offers:

Title of Security

CUSIP/ISIN
Number

Principal
Amount
Outstanding

Acceptance
Priority Level

Early Tender

Premium(1)

Tender Offer

Consideration(1)

Total

Consideration(1)(2)

8.625% Senior Secured
Notes due 2027

78573NAJ1

U86043AG8

US78573NAJ19

USU86043AG86

$656,783,000

1

$     50.00

$   985.00

$   1,035.00

7.375% Senior Secured

Notes due 2025

78573NAF9
U86043AD5

US78573NAF96

USU86043AD55

$23,393,000

2

$     50.00

$   951.25

$   1,001.25

11.250% Senior Secured

 Notes due 2027

78573NAH5

U86043AF0

US78573NAH52

USU86043AF04

$45,814,000

3

$     50.00

$   950.00

$   1,000.00

___________________

(1)   Dollars per $1,000 principal amount of Securities validly tendered and accepted for purchase.

(2)   Includes Early Tender Premium (as defined below).

The Tender Offers will expire at 11:59 p.m., New York City time, on June 17, 2025 (such date and time, as it may be extended, the “Expiration Date”), unless earlier terminated.  Holders of Securities (the “Holders”) must validly tender their Securities at or prior to 5:00 p.m., New York City time, on June 3, 2025 (such date and time, as it may be extended, the “Early Tender Deadline”) to be eligible to receive the Total Consideration (as defined below) for such Securities, which includes the Early Tender Premium (as defined below), plus the accrued and unpaid interest up to, but not including, the early settlement date which is expected to be June 4, 2025 (such date and time, as it may be extended, the “Early Settlement Date.” Holders tendering Securities after the Early Tender Deadline and at or prior to the Expiration Date will only be eligible to receive the Tender Offer Consideration (as defined below), which will equal the Total Consideration for such series of Securities less the Early Tender Premium, plus accrued and unpaid interest up to, but not including, the final settlement date, which is expected to be June 20, 2025 (such date and time, as it may be extended, the “Final Settlement Date,” and of the Early Settlement Date and Final Settlement Date, a “Settlement Date”). Tendered Securities may be withdrawn from the Tender Offers at or prior to, but not after, 5:00 p.m., New York City time, on June 3, 2025.

The “Total Consideration” for each $1,000 principal amount of Securities of a series validly tendered at or prior to the Early Tender Deadline and accepted for purchase pursuant to the Tender Offers will be the applicable “Total Consideration” for such series of Securities set forth in the table above, which is inclusive of the amount in cash set forth in the table above under the heading “Early Tender Premium” (the “Early Tender Premium”). The “Tender Offer Consideration” for each $1,000 principal amount of Securities of a series validly tendered after the Early Tender Deadline but on or prior to the Expiration Date will only be eligible to receive an amount equal to the applicable “Tender Offer Consideration” for such series of Securities set forth in the table above. The aggregate amount that all Holders are entitled to receive for their Securities that are validly tendered and accepted for purchase by Sabre GLBL in the Tender Offers, excluding accrued interest, is referred to as the “Aggregate Purchase Price.”

Subject to the Aggregate Maximum Tender Amount, proration and all conditions to the Tender Offers having been satisfied or waived by us, the amount of a series of Securities that is purchased in the Tender Offers will be based on the order of priority for such series of Securities set forth in the table above (the “Acceptance Priority Level”). The purchase of one series of Securities is not conditioned on the purchase of any other series of Securities.

Subject to the Acceptance Priority Levels, the Aggregate Maximum Tender Amount, proration and all conditions to the Tender Offers having been satisfied or waived by us: 

all Securities tendered at or before the Early Tender Deadline having a higher Acceptance Priority Level will be accepted for purchase before any Securities tendered at or before the Early Tender Deadline having a lower Acceptance Priority Level are accepted for purchase;all Securities validly tendered after the Early Tender Deadline having a higher Acceptance Priority Level will be accepted for purchase before any Securities tendered after the Early Tender Deadline having a lower Acceptance Priority Level are accepted for purchase in the Tender Offers; andall Securities tendered at or before the Early Tender Deadline will be accepted for purchase in priority to Securities tendered after the Early Tender Deadline, even if such Securities tendered after the Early Tender Deadline have a higher Acceptance Priority Level than Securities tendered prior to the Early Tender Deadline.

If there are sufficient remaining funds to purchase some, but not all, of the Securities of any series, the amount of Securities purchased in that series may be subject to proration.

On May 20, 2025, Sabre GLBL announced the pricing of an offering of $1.325 billion aggregate principal amount of 11.125% Senior Secured Notes due 2030 (the “Financing Transaction”). Sabre GLBL currently anticipates, subject to execution of definitive documentation and certain customary closing conditions, that the Financing Transaction will result in Sabre GLBL’s receipt of net cash proceeds which will be sufficient to fund the Aggregate Purchase Price and accrued interest for all Securities validly tendered pursuant to the Tender Offers and accepted for purchase by Sabre GLBL, subject to the terms and conditions of the Tender Offers.  No assurances can be given that the Financing Transaction will be completed. The Tender Offers are subject to the satisfaction or waiver of the conditions described in the Offer to Purchase, including the consummation of the Financing Transaction. Such conditions may be waived by Sabre GLBL in its sole discretion, subject to applicable law. Any waiver of a condition by Sabre GLBL will not constitute a waiver of any other condition.

In this press release, we refer to all Securities that have been validly tendered and not subsequently validly withdrawn as having been “validly tendered.” This announcement does not contain the full terms and conditions of the Tender Offers, which are contained in the offers to purchase for cash, dated May 20, 2025 (as they may be amended or supplemented, collectively, the “Offer to Purchase”). Sabre GLBL refers investors to the Offer to Purchase for the complete terms and conditions of the Tender Offers.

Following the completion of the Tender Offers, Sabre GLBL or its affiliates may purchase additional Securities in the open market, in privately negotiated transactions, through tender or exchange offers, or otherwise, or Sabre GLBL may redeem Securities that Sabre GLBL is permitted to redeem pursuant to their terms. Sabre GLBL is not obligated to redeem any Securities that are not tendered and accepted in the Tender Offers.

Davis Polk & Wardwell LLP is serving as legal counsel to Sabre on this transaction. Latham & Watkins LLP is serving as legal counsel to BofA Securities. Perella Weinberg Partners LP is serving as financial advisor to Sabre.

Information Relating to the Tender Offers

The Offer to Purchase for all of the Securities is being distributed to Holders beginning today. BofA Securities is the Dealer Manager for the Tender Offers. Investors with questions regarding the Tender Offers may contact BofA Securities, Bank of America Tower, 620 South Tryon Street, 20th Floor, Charlotte, North Carolina 28255, attention: Debt Advisory, collect: (980) 388-3646, toll-free: (888) 292-0070, email: debt_advisory@bofa.com. D.F. King & Co., Inc. is the tender and information agent for the Tender Offers. Copies of the Offer to Purchase and any related offer documents may be obtained by contacting D.F. King & Co., Inc. by phone at (212) 269-5550 (New York) or (800) 515-4479 (toll-free) or by email at sabre@dfking.com.

None of Sabre GLBL, Sabre, their affiliates, their respective boards of directors and stockholders, the Dealer Manager, the Tender Agent or Computershare Trust Company, N.A., as trustee for the Securities, are making any recommendation as to whether Holders should tender any Securities in response to the Tender Offers. Holders must make their own decision as to whether to tender any of their Securities, and, if so, the principal amount of Securities to tender.

This press release is for informational purposes only and is not an offer to buy or a solicitation of an offer to sell any of the Securities, and the Tender Offers do not constitute offers to buy or the solicitation of offers to sell Securities in any jurisdiction or in any circumstances in which such offers are unlawful. The full details of the Tender Offers, including complete instructions on how to tender Securities, are included in the Offer to Purchase. Holders are strongly encouraged to read carefully the Offer to Purchase because it will contain important information.

Forward-Looking Statements

Certain statements herein are forward-looking statements about trends, future events, uncertainties and our plans and expectations of what may happen in the future. Any statements that are not historical or current facts are forward-looking statements. In many cases, you can identify forward-looking statements by terms such as “expect,” “guidance,” “outlook,” “trend,” “pro forma,” “on course,” “on track,” “target,” “potential,” “benefit,” “goal,” “believe,” “plan,” “confident,” “anticipate,” “indicate,” “trend,” “position,” “optimistic,” “will,” “forecast,” “continue,” “strategy,” “estimate,” “project,” “may,” “should,” “would,” “intend,” or the negative of these terms, where applicable, or other comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. More information about potential risks and uncertainties that could materially affect our business and results of operations is included in the “Risk Factors” and “Forward-Looking Statements” sections in our Quarterly Report on Form 10-Q filed with the SEC on May 7, 2025, our Annual Report on Form 10-K filed with the SEC on February 20, 2025 and in our other filings with the SEC, as well as other risks and uncertainties specified in the “Certain Significant Considerations” section of the Offer to Purchase. We cannot guarantee future events, including funding of the Financing Transaction and successful completion of the Tender Offers, outlook, guidance, results, actions, levels of activity, performance or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. Unless required by law, we undertake no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made.

About Sabre

Sabre Corporation is a leading technology company that takes on the biggest opportunities and solves the most complex challenges in travel. Sabre harnesses speed, scale and insights to build tomorrow’s technology today – empowering airlines, hoteliers, agencies and other partners to retail, distribute and fulfill travel worldwide. Headquartered in Southlake, Texas, USA, with employees across the world, Sabre serves customers in more than 160 countries globally.

SABR-F

Contacts:

Media

Investors

Cassidy Smith-Broyles

Cassidy.Smith-Broyles@sabre.com

sabrenews@sabre.com

Jim Mathias

Jim.Mathias@sabre.com

sabre.investorrelations@sabre.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/sabre-corporation-announces-cash-tender-offers-by-sabre-glbl-inc-for-existing-secured-debt-302461234.html

SOURCE Sabre Corporation

Continue Reading

Trending