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Published on 2/25/2011 in the Prospect News Convertibles Daily, Prospect News High Yield Daily and Prospect News Preferred Stock Daily.

Strategic Hotels files $500 million shelf for stock, preferreds, debt

By Devika Patel

Knoxville, Tenn., Feb. 25 - Strategic Hotels & Resorts Inc. and its subsidiaries jointly filed a $500 million shelf registration in an S-3 filing with the Securities and Exchange Commission.

The registration covers common stock, preferred stock, depositary shares, debt securities, warrants, subscription rights and units, along with preferred securities to be offered by subsidiaries and guaranteed by the parent.

The securities may be structured as convertibles.

Proceeds will be used to repay debt, to acquire and develop hotel properties as opportunities arise, to invest in future co-investment ventures, to make improvements to hotel properties and for general business purposes.

Strategic is a Chicago-based real estate investment trust.


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