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Prospect News home > News index > List of issuers Paydowns > Headlines for Altivity Packaging, LLC > News item
Published on 3/11/2016 in the Prospect News Bank Loan Daily.

Extended Stay America to repay term loan with funds from add-on notes

By Marisa Wong

Morgantown, W.Va., March 11 – Extended Stay America, Inc.’s subsidiary, ESH Hospitality, Inc., plans to repay all amounts outstanding under its term loan using proceeds from an offering of senior notes, according to a press release.

The company also plans to repay a portion of amounts outstanding under its existing mortgage loan using the note proceeds.

On Friday, the company announced it plans to issue a $500 million add-on to its 5¼% senior notes due May 1, 2025.

The lodging real estate investment trust is based in Charlotte, N.C.


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