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Host Marriott to use new deal proceeds to redeem notes
Pittsburgh, July 27 - Host Marriott Corp. said sole general partner Host Marriott LP will use the proceeds from an offering of $350 million of senior notes due 2012 to redeem a portion of Host Marriott LP's existing 7 7/8% series B senior notes due 2008, according to a company news release.
The proceeds from the offering will also be used to pay fees and expenses related to the redemption.
Host Marriott is a Bethesda, Md., lodging real estate company.
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