Park Hotels to repay portion of revolver, term loan with new notes

Chicago, May 11 – Park Hotels & Resorts Inc. plans to use the proceeds from a new offering of notes to repay a portion of the company’s revolver and its term loan that matures in August 2024, according to a press release.

The facility was originally entered into in 2019.

The note offering was launched at $650 million with subsidiaries Park Intermediate Holdings LLC, PK Domestic Property LLC and PK Finance Co-Issuer Inc. as co-issuers.

Park Hotels is a Tysons, Va.-based real estate investment trust focused on hotels.

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