Host Hotels to retire 7 1/8% notes, repay some debt with note proceeds

By Susanna Moon

Chicago, May 5 - Host Hotels & Resorts, Inc. said it plans to redeem all of its $250 million principal amount of outstanding 7 1/8% series K senior notes due November 2013 and repay $50 million of debt under its credit facility using proceeds from an issue of notes.

Host Hotels & Resorts, LP, for which the company acts as sole general partner, is planning to offer $350 million principal amount of senior notes due 2019, subject to market conditions, according to a company press release.

Proceeds also will be used for general corporate purposes.

Host Hotels is a Bethesda, Md.-based real estate investment trust that owns and operates hotel properties.

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