Sabre Financial retired its 2029 notes, which carried 11.125% interest, but paid 9.25% above face value for the remaining notes, plus interest. The interest savings and cash cost point in different directions, and the filing gives no details on Sabre's remaining cash.
Removing the notes should stop their 11.125% interest charges, but Sabre paid above face value to do it. The filing does not say how it funded the payment or how much cash remains, so the facts point in different directions.
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