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Marriott International Announces Expiration and Results of its Debt Tender Offers
BETHESDA, Md., June 22, 2020 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) is announcing today the expiration and results of its previously
About this update from Marriott International
[{"type":"text","content":"BETHESDA, Md., June 22, 2020 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) is announcing today the expiration and results of its previously announced offers to purchase for cash any and all of the Notes listed in the table below (the \"Notes\"). The offers to purchase with respect to each series of Notes are being referred to herein collectively as the \"Offers\" and each as an \"Offer.\" Each Offer was made upon the terms and subject to the conditions set forth in the offer to purchase, dated June 15, 2020 (the \"Offer to Purchase\"), and its accompanying notice of guaranteed delivery (the \"Notice of Guaranteed Delivery\" and, together with the Offer to Purchase, the \"Tender Offer Documents\"). Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.\n\n \n \n \n \n \n \n\n \nTitle of Security\nCUSIP\nAcceptancePriorityLevel(1)\nMaturity Date\nPrincipal AmountPreviouslyOutstanding(in thousands)\nPrincipalAmountTendered (2)(in thousands)\nPrincipal AmountAccepted for Purchase (2)(in thousands)\nTotal Consideration(3)\n2.300% Series Q Notes due 2022\n571903AR4\n1\nJanuary 15, 2022\n$750,000\n$350,842\n$350,842\n$1,006.25\n3.250% Series L Notes due 2022\n571903AK9\n2\nSeptember 15, 2022\n$350,000\n$176,337\n$176,337\n$1,018.75\n2.125% Series DD Notes due 2022\n571903BC6\n3\nOctober 3, 2022\n$550,000\n$325,637\n$325,637\n$995.00\n3.125% Series N Notes due 2021\n571903AM5\n4\nOctober 15, 2021\n$400,000\n$241,420\n—\n$1,012.50\n(1) Marriott accepted Notes in the order of their respective Acceptance Priority Level specified in the table above (each, an \"Acceptance Priority Level,\" with 1 being the highest Acceptance Priority Level and 4 being the lowest Acceptance Priority Level), subject to the terms and conditions described in the Offer to Purchase.\n(2) Not Including (i) $103,000 in aggregate principal amount of the 2.300% Series Q Notes due 2022, (ii) $1,041,000 in aggregate principal amount of the 3.250% Series L Notes due 2022, (iii) $437,000 in aggregate principal amount of the 2.125% Series DD Notes due 2022, and (iv) $595,000 in aggregate principal amount of the 3.125% Series N Notes due 2021, in each case, tendered pursuant to the Guaranteed Delivery Procedures (as defined in the Offer to Purchase), for which delivery of such Notes must be made by ...