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Apex Trader Funding (ATF) - News

Host Hotels & Resorts, Inc. Announces Pricing Of $600 Million Of 5.700% Senior Notes Due 2034, a Green Bond, By Host Hotels & Resorts, L.P.

BETHESDA, Md., May 07, 2024 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ:HST) (the "Company"), the nation's largest lodging real estate investment trust, today announced that Host Hotels & Resorts, L.P. ("Host L.P."), for whom the Company acts as sole general partner, has priced its offering (the "Offering") of $600 million aggregate principal amount of 5.700% Senior Notes due 2034 (the "Notes"). The Notes are Host L.P.'s senior unsecured obligations. The Offering is expected to close on May 10, 2024, subject to the satisfaction or waiver of customary closing conditions. The estimated net proceeds of the Offering, after deducting the underwriting discount, original issue discount and fees and expenses, are expected to be approximately $584 million. Host L.P. intends to allocate an amount equal to the net proceeds from the sale of the Notes to finance and/or refinance one or more eligible green projects, including the April 2024 acquisition of the 1 Hotel Nashville and Embassy Suites by Nashville Downtown, each of which has received LEED Silver certification. Following this allocation, Host L.P. intends to use the net proceeds from the sale of the Notes to repay the remaining $215 million of borrowings outstanding under the revolver portion of its senior credit facility. J.P. Morgan Securities LLC (Sustainability Structuring Agent), BofA Securities, Inc., Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Scotia Capital (USA) Inc. are the joint book-running managers for the Offering. The Offering is being made pursuant to an effective shelf registration statement and accompanying prospectus filed with the Securities and Exchange Commission on April 9, 2024 and a preliminary prospectus supplement filed with the Securities and Exchange Commission on May 7, 2024. A copy of the final prospectus supplement and the accompanying prospectus relating to the Notes may be obtained, when available, by contacting J.P. Morgan Securities LLC, at 383 Madison Avenue, New York, New York 10179, Attention: Investment Grade Syndicate Desk – 3rd Floor, or ...