AI English summary of an SEC filing — figures as filed
Marriott International MARThe company said it entered into a Terms Agreement on August 8, 2024 to issue $500,000,000 aggregate principal amount of 4.800% Series PP Notes due 2030, and that the Notes were issued on August 12, 2024.
Key points
AI summaryThe company said it entered into a Terms Agreement on August 8, 2024 to issue $500,000,000 aggregate principal amount of 4.800% Series PP Notes due 2030, and that the Notes were issued on August 12, 2024.
Under the same Terms Agreement, the company said it will issue $1,000,000,000 aggregate principal amount of 5.350% Series QQ Notes due 2035, and it referred to them together with the Series PP Notes as the Notes.
The company said the net proceeds from the Notes, after deducting the underwriting discount and estimated offering expenses, are about $1.480 billion, and that it plans to use them for general corporate purposes. It said these may include working capital, capital expenditures, acquisitions, stock repurchases or repayment of existing debt.
The company said it will pay interest on both the Series PP Notes and the Series QQ Notes each year on March 15 and September 15, starting on March 15, 2025. The Series PP Notes mature on March 15, 2030, and the Series QQ Notes mature on March 15, 2035.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
4.800% Series PP Notes due 2030 issued for $500,000,000
The company said it entered into a Terms Agreement on August 8, 2024 to issue $500,000,000 aggregate principal amount of 4.800% Series PP Notes due 2030, and that the Notes were issued on August 12, 2024.
Source · Based on the filing body and exhibits
5.350% Series QQ Notes due 2035 issued for $1,000,000,000
Under the same Terms Agreement, the company said it will issue $1,000,000,000 aggregate principal amount of 5.350% Series QQ Notes due 2035, and it referred to them together with the Series PP Notes as the Notes.
Source · Based on the filing body and exhibits
Notes net proceeds of about $1.480 billion and planned use
The company said the net proceeds from the Notes, after deducting the underwriting discount and estimated offering expenses, are about $1.480 billion, and that it plans to use them for general corporate purposes. It said these may include working capital, capital expenditures, acquisitions, stock repurchases or repayment of existing debt.
Source · Based on the filing body and exhibits
Series PP and QQ Notes interest payment schedule and maturities
The company said it will pay interest on both the Series PP Notes and the Series QQ Notes each year on March 15 and September 15, starting on March 15, 2025. The Series PP Notes mature on March 15, 2030, and the Series QQ Notes mature on March 15, 2035.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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