Huazhu to repay part of its $500 million revolver with share proceeds

By Taylor Fox

New York, Sept. 10 – Huazhu Group Ltd. plans to repay part of its $500 million revolving credit facility drawn down in December 2019 with proceeds from its offering of new ordinary shares, according to a news release.

The proceeds will also be used to fund capital expenditures and expenses to strengthen the company’s hotel network, including opening of new hotels and the upgrade and ongoing maintenance of existing hotels; to enhance its technology platform, including the H rewards loyalty program; and for general corporate purposes.

Huazhu Group is a Shanghai-based hotel management company.

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