Host Hotels (HST) Enters New $500M Term Loan
- Merck KGaA to Acquire Sigma-Aldrich (SIAL) in $17B Deal
- Unusual 11 Mid-Day Movers 9/22: (CNET) (NXTD) (VIAS) Higher; (MTL) (CRR) (SCOK) Lower
- Apple (AAPL) First Weekend iPhone 6/6+ Sales Top 10 Million Units
- Traders Should Be Especially Nervous This Week - Art Cashin
- Pre-Open Stock Movers 9/22: (VIAS) (SIAL) (CNET) Higher; (CRR) (INVN) (YHOO) Lower (more...)
Host Hotels & Resorts, Inc. (NYSE: HST) today announced that it has closed on a term loan for $500 million ("Term Loan") through an amendment and restatement of its existing credit facility. The Term Loan has a five-year maturity and the interest rate spread depends on the Company's leverage ratio. Based on the Company's current leverage ratio, the Term Loan has a floating interest rate of LIBOR plus 180 basis points (or approximately a 2.0% all-in interest rate). Proceeds from the Term Loan will be used to repay a portion of the revolver draw associated with the Company's recent acquisition of the 888-room Grand Hyatt Washington, D.C., as well as to redeem $400 million of senior notes. The Term Loan was arranged by Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities, LLC, as joint lead arrangers and joint book runners.
You May Also Be Interested In
- Apple (AAPL) Reports First Weekend iPhone 6/6+ Sales Top 10M Units
- American Airlines Group (AAL), Flight Attendants Reach Tentative Agreement
- Tiffany & Co. (TIF) Announces Aggregate $500M Senior Notes Offerings; Sees Charges on Redemptions
Create E-mail Alert Related CategoriesCorporate News
Related EntitiesJPMorgan, Merrill Lynch, Wells Fargo
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!