Host Hotels & Resorts, L.P. said it completed its underwritten public offering of $400 million aggregate principal amount of 4.250% Series N senior notes due 2028 on November 26, 2025.

1. 01

   Host Hotels & Resorts, L.P. said it completed its underwritten public offering of $400 million aggregate principal amount of 4.250% Series N senior notes due 2028 on November 26, 2025.

2. 02

   The company said the Series N senior notes pay interest semi-annually in arrears. Before the Par Call Date, November 15, 2028, the notes are redeemable at the greater of a make-whole price based on the Treasury Rate plus 15 basis points or par, plus accrued interest. On or after the Par Call Date, the notes are redeemable at 100% of principal plus accrued and unpaid interest.

3. 03

   The company said Host L.P.'s ability to incur additional debt under the Indenture is subject to restrictions and conditions, including an EBITDA-to-interest coverage ratio of at least 1.5x. It also said debt must be less than 65% of adjusted total assets and secured debt less than 40% of adjusted total assets. However, the debt ratio tests do not apply to indebtedness that qualifies as Refinancing Indebtedness.

4. 04

   The company said it plans to use the net proceeds from the Series N senior notes, together with cash on hand, to redeem in full the $400 million of outstanding principal of its 4.500% Series F senior notes due 2026 on November 28, 2025.

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Original filing

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