Extended Stay details $500 million offering of notes due 2027

By Cristal Cody

Tupelo, Miss., Sept. 10 – Extended Stay America Inc. (Ba3/BB-) firmed some details of a $500 million offering of senior notes due 2027 that will be offered in a Rule 144A and Regulation S transaction, according to a news release on Tuesday.

The notes will be issued through the company’s subsidiary, ESH Hospitality, Inc.

The issue is guaranteed by certain of ESH’s subsidiaries.

Investor calls for the deal were held on Thursday, a source reported.

Proceeds will be used to repay outstanding borrowings under the company’s existing term loan.

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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