Host Hotels repays $800 million of revolving borrowings

Chicago, Dec. 9 – Host Hotels & Resorts, LP repaid $800 million of revolver borrowings on Dec. 7, according to an 8-K filed with the Securities and Exchange Commission.

The revolver repaid is part of the company’s fifth amended and restated senior revolving credit and term loan facility with Bank of America, NA as administrative agent.

The credit facility provides for a total of $1.5 billion of availability, which has been substantially fully utilized.

After the Dec. 7 repayment, about $683 million remains outstanding along with $1 billion outstanding under the term loan facility.

The repaid amounts can be reborrowed at any time.

The current interest rate for the revolver is Libor plus 110 basis points, and the current term loan interest rate is Libor plus 125 bps, based on long-term debt ratings.

Host Hotels is a real estate investment trust based in Bethesda, Md., that owns and operates hotel properties. Host Hotels & Resorts, Inc. is the sole general partner of the borrowing entity.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.