Host Hotels amends, getting new $165 million term loan

By Sara Rosenberg

New York, April 28 - Host Hotels & Resorts LP amended its credit facility, providing for a new $165 million term loan due September 2011, according to an 8-K filed with the Securities and Exchange Commission Monday.

Pricing on the term loan is Libor plus 175 basis points, with a 2.25% Libor floor.

Call protection against voluntary prepayments is 101½ until Oct. 22, 101 until April 22, 2009, and 100½ until Oct. 22, 2009.

The term loan has a one-year extension option.

The term loan was done under the credit agreement's $400 million accordion feature, which has now been reduced to $235 million.

The amendment was completed on April 22.

Deutsche Bank is the administrative agent on the deal.

Host Hotels is a Bethesda, Md.-based real estate investment trust that primarily engages in the ownership and operation of hotel properties.

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