By Angela McDaniels
Tacoma, Wash., Aug. 4 - Hyatt Hotels Corp. priced $500 million of senior notes (Baa2/BBB/) in two tranches, according to a company news release.
The issue includes $250 million of 3.875% notes due 2016 and $250 million of 5.375% notes due 2021.
Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Scotia Capital (USA) Inc. and UBS Investment Bank are the bookrunners.
Other details of the issuance were not immediately disclosed.
The proceeds will be used for general corporate purposes, which may include working capital, capital expenditures, debt service requirements, debt repayment and other business initiatives including acquisitions.
Hyatt is a hospitality company based in Chicago.
| Issuer: | Hyatt Hotels Corp.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Scotia Capital (USA) Inc. and UBS Investment Bank
|
| Pricing date: | Aug. 4
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
|
|
| Five-year notes
|
| Amount: | $250 million
|
| Maturity: | 2016
|
| Coupon: | 3.875%
|
|
|
| 10-year notes
|
| Amount: | $250 million
|
| Maturity: | 2021
|
| Coupon: | 5.375%
|
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