BETHESDA, Md., March 19, 2013 /PRNewswire/ -- Host Hotels & Resorts, Inc. (NYSE: HST) 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 $400 million aggregate principal amount of 3.75% Senior Notes due 2023 (the "Notes"). The Offering is expected to close on March 28, 2013, subject to the satisfaction or waiver of customary closing conditions.
The net proceeds of the Offering of approximately $396 million, after deducting the underwriting discount, fees and expenses, together with cash on hand, will be used to redeem all of Host L.P.'s $400 million aggregate principal amount of 9% Series T Senior Notes due 2017.
J.P. Morgan, Goldman, Sachs & Co., BofA Merrill Lynch and Deutsche Bank Securities are the joint book-running managers for the Offering.The Offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC") on May 1, 2012. A copy of the prospectus supplement and prospectus relating to the Notes may be obtained, when available, by contacting J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attn: Investment Grade Syndicate Desk, telephone: (212) 834-4533; Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526, fax: 212-902-9316, or email: email@example.com; BofA Merrill Lynch, 222 Broadway, 11th Floor, New York, NY 10038, Attn: Prospectus Department, telephone: 800-294-1322 or email: firstname.lastname@example.org; or Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005, telephone: 800-503-4611 or email: prospectus.CPDG@db.com. 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 securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV