Host Hotels & Resorts to redeem class C cumulative preferreds, 7 7/8% notes

By Jennifer Chiou

New York, April 19 - Host Hotels & Resorts, Inc. announced the May 19 redemption of all 5,980,000 shares of its 10% class C cumulative redeemable preferred stock and the May 15 redemption of its $136 million of 7 7/8% series B senior notes due 2008.

The company said it will redeem the cumulative preferreds at $25.00 per share, plus $0.2361 per share of dividends accrued from April 15.

Host said it will pay a call premium of 1.328% of the principal amount of the 7 7/8% notes.

The Bethesda, Md.-based real estate investment trust is focused on hotels.

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