Sunstone Hotel retires all $58 million of 4.6% exchangeables due 2027

By Tali David

Minneapolis, Jan. 25 - Sunstone Hotel Partnership, LLC retired the outstanding $58 million of its 4.6% exchangeable senior notes due 2027, according to a press release.

Investors exercised a put option to redeem $42 million of notes Jan. 17. On Jan. 22, the remaining $16 million of notes was redeemed.

The operating partnership paid for all of the $58 million of notes with available cash, the release said.

Sunstone is the operating partnership of Sunstone Hotel Investors, a lodging real estate investment trust based in San Clemente, Calif.

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