Host Marriott to redeem 7 7/8 notes with $345 million note offering proceeds

Pittsburgh, Aug. 4 - Host Marriott Corp. will redeem a portion of its existing 7 7/8% series B senior notes due in 2008 on Sept. 2, according to a company news release.

The notes will be redeemed using about $345 million in net proceeds from the company's recent Rule 144A offering of $350 million of 7% senior notes due 2012.

The proceeds will also be used to pay all call premiums.

Host Marriott is a Bethesda, Md., lodging real estate company.

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