John Q. Hammons Hotels to start roadshow Friday for $500 million first mortgage notes

By Paul A. Harris

St. Louis, Mo., April 30 - John Q. Hammons Hotels will begin the roadshow Friday for an offering of $500 million first mortgage notes due 2012 (B2/B), according to a syndicate source.

The roadshow will conclude on May 14.

Lehman Brothers is the bookrunner. The syndicate also includes Credit Suisse First Boston, Salomon Smith Barney, JP Morgan, Banc of America Securities and Stifel Nicolaus.

The Rule 144A notes will be non-callable for five years.

Proceeds will be used to fund the cash tender offer for its $300 million 8 7/8% first mortgage notes due 2004 and $90 million 9¾% first mortgage notes due 2005, and to repay other debt.

The independent builder, owner and manager of hotels and resorts is headquartered in Springfield, Mo.

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