Host Hotels & Resorts, L.P. entered into an underwriting agreement with Goldman Sachs & Co. LLC and 4 other underwriters for the public offering of $700 million in 5.500% Series L senior notes due 2035, the company said. Goldman Sachs & Co. LLC and the other representatives were named in the agreement on August 7, 2024.

1. 01

   Host Hotels & Resorts, L.P. entered into an underwriting agreement with Goldman Sachs & Co. LLC and 4 other underwriters for the public offering of $700 million in 5.500% Series L senior notes due 2035, the company said. Goldman Sachs & Co. LLC and the other representatives were named in the agreement on August 7, 2024.

2. 02

   Host L.P. completed the underwritten public offering of the Series L senior notes on August 12, 2024, the company said. It said the notes pay interest semi-annually in arrears and were issued under a ninth supplemental indenture with The Bank of New York Mellon as trustee.

3. 03

   The company said Host L.P. may redeem the Series L senior notes before January 15, 2035 (the Par Call Date) at a price equal to the greater of 100% of principal amount and the present value of remaining scheduled payments discounted at the Treasury Rate plus 30 basis points, less accrued interest, plus accrued and unpaid interest. On or after the Par Call Date, it may redeem the notes at 100% of principal amount plus accrued and unpaid interest, and the redemption is not limited to whole notes, as the notes may be redeemed in whole or in part.

4. 04

   Host L.P. plans to use the net proceeds from the Series L senior notes to repay all $525 million borrowed under the revolver portion of its senior credit facility, without a reduction in commitments, the company said. The borrowings include amounts drawn for the recent acquisitions of The Ritz-Carlton O’ahu, Turtle Bay and 1 Hotel Central Park.

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Original filing

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