New Issue-Host Hotels & Resorts sells $400 mln in 8-yr sr notes

Tue May 5, 2009 11:52pm BST
[-] Text [+]
 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.


 
 
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