Host Hotels to use new offering proceeds to redeem 6% notes due 2020

By Wendy Van Sickle

Columbus, Ohio, Oct. 8 – Host Hotels & Resorts, LP plans to redeem its outstanding $500 million of 6% series V senior notes due 2020 in part with proceeds from a new offering of senior notes, according to a 424B5 filed with the Securities and Exchange Commission.

The company said it will also use cash on hand and a $150 million term loan draw to fund the redemption at a total price of $515 million.

Host Hotels is offering $350 million of the new series F senior notes due 2026.

The Bethesda, Md.-based real estate investment trust owns luxury and upper-upscale hotels.

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