Host Marriott plans drive-by offering of $350 million five-year notes

By Paul A. Harris

St. Louis, Mo., Dec. 5 - A drive-by offering by Host Marriott Corp. of $350 million of five-year senior notes (Ba3/BB) is set to price Thursday or Friday following a teleconference, a syndicate source told Prospect News.

Deutsche Banc Alex. Brown, and Banc of America Securities are joint bookrunners, the source said.

The notes are bullets and will be sold under Rule 144A.

Proceeds will be used to repay bank debt.

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