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Host Hotels & Resorts, Inc. Announces Pricing Of $450 Million Of 2.900% Senior Notes Due 2031 By Host Hotels & Resorts, L.P.
BETHESDA, Md., Nov. 08, 2021 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate
About this update from Host Hotels & Resorts, Inc.
[{"type":"text","content":"BETHESDA, Md., Nov. 08, 2021 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST) (the “Company”), the nation’s largest lodging real estate investment trust, today announced that Host Hotels & Resorts, L.P. (\"Host L.P.\"), for whom the Company acts as sole general partner, has priced its offering (the \"Offering\") of $450 million aggregate principal amount of 2.900% Senior Notes due 2031 (the \"Notes\"). The Offering is expected to close on November 23, 2021, subject to the satisfaction or waiver of customary closing conditions. The estimated net proceeds of the Offering, after deducting the underwriting discount, original issue discount and fees and expenses, are expected to be approximately $439 million. Host L.P. intends to allocate an amount equal to the net proceeds from the sale of the Notes to one or more eligible green projects. Following this allocation, Host L.P. intends to use the net proceeds from the sale of the Notes to redeem all of Host L.P.’s outstanding $400 million aggregate principal amount of 3.750% Series D senior notes due 2023. Proceeds from the Offering not used to redeem the Series D senior notes will be used for general corporate purposes. BofA Securities, Inc., Wells Fargo Securities, LLC, Deutsche Bank Securities, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the joint book-running managers for the Offering. The Offering is being made pursuant to an effective shelf registration statement and accompanying prospectus filed with the Securities and Exchange Commission on April 15, 2021 and a preliminary prospectus supplement filed with the Securities and Exchange Commission on November 8, 2021. A copy of the final prospectus supplement and the accompanying prospectus relating to the Notes may be obtained, when available, by contacting BofA Securities, Inc., at 200 North College Street, NC1-004-03-43, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by calling toll free (800) 294-1322 or by email at [email protected]; and Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, telephone (800) 645-3751 or email: [email protected]. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the s...