New Issue: Host Hotels sells $650 million 3.375% green notes due 2029 at 168 bps over Treasuries

By Devika Patel

Knoxville, Tenn., Sept. 12 – Host Hotels & Resorts, LP priced $650 million of 3.375% series H green senior notes (Baa2/BBB-/BBB) due Dec. 15, 2029 on Thursday, according to an FWP filing with the Securities and Exchange Commission.

Host Hotels priced the notes at 99.218 to yield 3.467%, or 168 basis points over Treasuries.

Wells Fargo Securities LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.

Proceeds will be used for eligible green projects.

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

Issuer:	Host Hotels & Resorts, LP
Amount:	$650 million
Description:	Series H green senior notes
Maturity:	Dec. 15, 2029
Bookrunners:	Wells Fargo Securities LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
Co-managers:	BB&T Capital Markets, Jefferies & Co., Scotia Capital (USA) Inc., U.S. Bancorp Investments Inc., BNY Mellon Capital Markets LLC, SMBC Nikko Securities America, Inc., TD Securities (USA) LLC and Credit Agricole Securities (USA) Inc.
Coupon:	3.375%
Price:	99.218
Yield:	3.467%
Spread:	168 bps over Treasuries
Call feature:	Make-whole call at Treasuries plus 30 bps until 90 days prior to maturity, then a par call
Trade date:	Sept. 12
Settlement date:	Sept. 26
Ratings:	Moody’s: Baa2
	S&P: BBB-
	Fitch: BBB
Distribution:	SEC Registered

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