Starwood says 94% of series B convertibles put back

New York, May 27 - Starwood Hotels & Resorts Worldwide Inc. said holders of 94% of its series B zero-coupon convertible senior notes due 2021 exercised the put option.

The White Plains, N.Y., hotel operator paid $578.07 per $1,000 principal amount at maturity for a total of $311 million. Funding came from borrowings on Starwood's credit facilities.

Following the put, $19 million of the convertibles remain outstanding.

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