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July 1, 2014
08:03 EDTHSTHost Hotels amended and extended $1B revolver scheduled to mature 2015
SHY Host Hotels & Resorts announced that it has amended and extended its existing $1B revolver scheduled to mature in 2015 and its $500M term loan scheduled to mature in 2017. The amended facility will extend the final maturity for both the revolver and term loan to 2019 and reduce pricing to reflect current market conditions. At the new pricing level based on our present credit rating, the all-in pricing was reduced 30 basis points on the revolver and 32.5 basis points on the term loan. Therefore, U.S. dollar denominated borrowings today would result in an initial all-in rate of 1.35% and 1.28%, respectively. At this time, approximately $220M is outstanding under the revolver and $500M under the term loan. The facility was arranged by Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities and Wells Fargo Securities as joint lead arrangers and joint book runners.
News For HST From The Last 14 Days
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July 23, 2014
08:40 EDTHSTHost Hotels initiated with a Neutral at ISI Group
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July 15, 2014
10:00 EDTHSTOn The Fly: Analyst Upgrade Summary
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07:33 EDTHSTHost Hotels upgraded to Buy from Hold at Argus
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