Xenia Hotels to sell $300 million five-year secured notes on Wednesday; initial talk high 6% area

By Paul A. Harris

Portland, Ore., Aug. 10 – Xenia Hotels & Resorts, Inc. plans to price a $300 million offering of five-year senior secured notes on Wednesday, according to market sources.

Initial price talk has the deal coming to yield in the high 6% area.

J.P. Morgan Securities LLC, Jefferies LLC, KeyBanc Capital Markets, Wells Fargo Securities LLC, Citigroup Global Markets Inc., BofA Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Raymond James & Associates are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with two years of call protection.

The Orlando-based real estate investment trust plans to use the proceeds to repay bank debt and for general corporate purposes.

Xenia invests primarily in luxury and upper upscale hotels and resorts.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.