Park Hotels to repay revolver borrowings with new note proceeds

By Marisa Wong

Los Angeles, May 18 – Park Hotels & Resorts Inc. said it intends to repay amounts outstanding under its fully drawn $1 billion revolving credit facility using proceeds from an offering of new notes.

The company announced on Monday plans to issue $500 million of senior secured notes due 2025.

Park Hotels is a Tysons, Va.-based real estate investment trust focused on hotels.

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