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Extended Stay America to price $500 million of notes
By Cristal Cody
Tupelo, Miss., Sept. 4 – Extended Stay America Inc. (Ba3/BB-) plans to price $500 million of new notes, according to a market source on Wednesday.
The deal is expected to be issued through the company's subsidiary, ESH Hospitality, Inc.
Investor calls will be held on Thursday.
Proceeds will be used to repay the balance of the company’s term loan B after amending and extending $631 million of its term loan B to 2026 from 2023.
Extended Stay America is a Charlotte, N.C.-based operator of an extended-stay hotel chain in the United States and Canada.
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