New Issue: Hyatt Hotels prices $400 million 4.375% 10-year senior notes with 142 bps spread

By Cristal Cody

Tupelo, Miss., Aug. 7 – Hyatt Hotels Corp. sold $400 million of 4.375% 10-year senior notes (Baa2/BBB/) at a spread of 142 basis points over Treasuries on Tuesday, according to an FWP filing with the Securities and Exchange Commission.

The notes priced at 99.866 to yield 4.391%.

Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Scotia Capital (USA) Inc. were the bookrunners.

Proceeds will be used for general corporate purposes, including the full or partial redemption of the company’s 2019 notes, secured debt repayment, share repurchases, acquisitions or any other general corporate purpose.

Chicago-based Hyatt Hotels operates full service hotels, resorts and residential and vacation properties.

Issuer:	Hyatt Hotels Corp.
Amount:	$400 million
Maturity:	Sept. 15, 2028
Securities:	Senior notes
Bookrunners:	Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Scotia Capital (USA) Inc.
Senior co-managers:	SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC
Co-managers:	BBVA Securities Inc., Credit Agricole Securities (USA) Inc., PNC Capital Markets LLC and Loop Capital Markets LLC
Coupon:	4.375%
Price:	99.866
Yield:	4.391%
Spread:	Treasuries plus 142 bps
Call features:	Make-whole call any time before three months prior to maturity at Treasuries plus 25 bps; thereafter at par
Trade date:	Aug. 7
Settlement date:	Aug. 16
Ratings:	Moody’s: Baa2
	S&P: BBB
Distribution:	SEC registered

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