New Issue: Host Marriott prices upsized $96.9 million of 8 7/8% preferred shares

By Paul A. Harris

St. Louis, May 26 - Host Marriott Corp. priced an upsized issue of $96.9 million of 8 7/8% class E cumulative redeemable preferred stock (B3/CCC+) at par on Wednesday, according to a company news release.

Price talk was in the area of 8 7/8%.

UBS Investment Bank and Bear Stearns & Co. were joint bookrunners. Deutsche Bank Securities was the senior co-manager. The co-managers were Legg Mason and Stifel, Nicolaus.

The issuer is a lodging real estate investment trust based in Bethesda, Md.

Issuer:	Host Marriott Corp.
Amount:	$96.9 million, increased from $75 million
Security description:	Class E cumulative redeemable preferred stock
Number of shares:	4 million
Greenshoe:	160,000 shares, about $3.9 million
Bookrunners:	UBS Investment Bank, Bear Stearns & Co.
Senior co-manager:	Deutsche Bank Securities
Co-managers:	Legg Mason, Stifel, Nicolaus
Coupon:	8 7/8%
Price:	$25.00 at par
Ratings:	Moody's: B3
	Standard & Poor's: CCC+
Price talk:	8 7/8% area
Listing:	New York Stock Exchange

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