Host Hotels & Resorts plans to repay $200 million revolver borrowings with notes proceeds

By Sara Rosenberg

New York, May 5 - Host Hotels & Resorts Inc. plans to repay the $200 million drawn under its revolving credit facility using proceeds from a $350 million senior notes offering, according to a news release.

Remaining proceeds will be used to repay the $135 million mortgage debt on the Westin Kierland Resort & Spa due in 2009 and for general corporate purposes.

Host Hotels is a Bethesda, Md.-based real estate investment trust focused on the ownership and operation of hotel properties.

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