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Host Hotels to buy back $450 million of partner's 9½% notes
By Laura Lutz
Des Moines, Oct. 26 - Host Hotels & Resorts, Inc. plans to repurchase the entire $450 million outstanding principal amount of 9½% series I senior notes due 2007 issued by its sole general partner, Host Hotels & Resorts, LP, according to a company release.
Funding for the buyback will come from a $500 million offering of senior notes that was announced on Thursday.
Host Hotels is a hotel and lodging real estate company based in Bethesda, Md.
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