New Issue-Host Hotels & Resorts sells $400 mln in 8-yr sr notes
May 5 (Reuters) - Real estate investment trust Host Hotels & Resorts Inc (HST.N: Quote, Profile, Research), on Tuesday sold $400 million of eight-year senior notes in the 144a private placement market, said IFR, a Thomson Reuters service.
The size of the deal was increased from an originally planned $350 million.
Goldman Sachs, Bank of America and Deutsche Bank were the joint bookrunning managers for the sale. BORROWER: HOST HOTELS AND RESORTS INC AMT $400 MLN * COUPON 9.00 PCT MATURITY 5/15/2017 TYPE SR NOTES ISS PRICE 96.599 FIRST PAY 11/15/2009 MOODY'S Ba1 YIELD 9.625 PCT SETTLEMENT 5/11/2009 S&P BB-PLUS SPREAD 673 BPS/ PAY FREQ SEMI-ANNUAL FITCH N/A MORE THAN TREAS NON-CALLABLE 4-YEARS ** * FACE AMT:$400 MLN. PROCEEDS:$386.396 MLN. ** NON-CALLABLE 4-YRS THEN AT 104.50, 102.25, 100.
EQUITY CLAW:3YR 35% AT 109.
© Thomson Reuters 2009. All rights reserved. | Learn more about Thomson Reuters
