Host Hotels & Resorts Announces Proposed Private Placement of Senior Notes Due 2014
October 26 2006 - 4:21PM
PR Newswire (US)
BETHESDA, Md., Oct. 26 /PRNewswire-FirstCall/ -- Host Hotels &
Resorts, Inc. (NYSE:HST) today announced that Host Hotels &
Resorts, L.P., for whom the Company acts as sole general partner,
is proposing to offer in a private placement $500 million aggregate
principal amount of Senior Notes due 2014 (the "Notes"), subject to
market conditions. As the offering is a private placement, it will
not be made to the general public. Only qualified institutional
buyers may participate in the offering. (Logo:
http://www.newscom.com/cgi-bin/prnh/20060417/HOSTLOGO ) The net
proceeds of the offering will be used to repay or repurchase Host
Hotels & Resorts, L.P.'s existing $450 million 9 1/2% Series I
Senior Notes due 2007 and for general corporate purposes. The Notes
to be offered have not been registered under the United States
Securities Act of 1933 and may not be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements. The issuance of the Notes will be
structured to allow secondary market trading under Rule 144A under
the Securities Act of 1933. This press release shall not constitute
an offer to sell or a solicitation of an offer to buy any security
and shall not constitute an offer, solicitation or sale of any
securities in any jurisdiction where such an offering or sale would
be unlawful. This press release contains information about pending
transactions, and there can be no assurance that these transactions
will be completed.
http://www.newscom.com/cgi-bin/prnh/20060417/HOSTLOGO
http://photoarchive.ap.org/ DATASOURCE: Host Hotels & Resorts,
Inc. CONTACT: Kevin J. Jacobs of Host Hotels & Resorts, Inc.,
+1-240-744-5212 Web site: http://www.hosthotels.com/
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