Starwood Hotels & Resorts to repay revolver borrowings with $500 million notes proceeds

By Sara Rosenberg

New York, April 30 - Starwood Hotels & Resorts Worldwide Inc. plans to reduce borrowings under its revolving credit facility using proceeds from a $500 million senior notes offering.

Remaining proceeds will be used for general corporate purposes, according to a company news release.

Starwood is a White Plains, N.Y.-based hotel and leisure company.

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