Host Hotels (HST) Enters New $500M Term Loan
- Top 10 News for 2/8 - 2/12: Banks Crushed Amid Global Concerns; Tesla Ramps on Outlook; SEC Targets Boeing
- U.S. Justice Scalia, conservative icon, dead at 79
- Wall Street rallies; S&P 500 snaps five-day losing streak
- Loeb's Third Point LLC 13F Shows New Stake Axalta (AXTA), Morgan Stanley (MS), Liquidates T-Mobile (TMUS), Lowers eBay (EBAY) ...
- Intercept Pharma (ICPT) Said to Explore Sale Following Interest
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Recovery in Banks Lifts Markets
- Web.com (WEB) to Acquire Yodle
- Paragon Offshore to Release Noble Corp (NE) from All Spinoff-Related Claims Amid Bankruptcy Plan
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!