Starwood Hotels & Resorts calls all $494.87 million 6.25% notes

By Ashley Montgomery

Kansas City, Kan., May 30 - Starwood Hotels & Resorts Worldwide, Inc. will redeem all of its $494.87 million of 6.25% senior notes due 2013, according to a news release.

The notes will be redeemed June 29.

The price will be the greater of par or the sum of the remaining scheduled payments of principal and interest, discounted to the date of redemption on a semiannual basis at the Treasury rate, calculated on the third business day preceding the redemption date, plus 35 basis points. The company will also pay accrued interest up to the redemption date.

Starwood is based in White Plains, NY. The company owns, operates and franchises hotels.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.