Home Uncategorized Hyatt Announces Pricing of Public Offering of Senior Notes
Uncategorized

Hyatt Announces Pricing of Public Offering of Senior Notes

Share
Share

Senior Note Pricing by Hyatt

Hyatt Hotels Corporation has announced the pricing of its public offering of senior notes totaling $500,000,000 with a maturity date in 2028. These notes will bear a fixed annual interest rate of 5.050%. Additionally, the company is offering another $500,000,000 in senior notes due in 2032, which will carry a fixed annual interest rate of 5.750%. The offering is expected to close on March 26, 2025, subject to customary closing conditions.

The Company intends to use the net proceeds of the offering to fund a portion of the purchase price for its pending acquisition of Playa Hotels & Resorts N.V. (“Playa,” and the pending acquisition of Playa, the “Playa Hotels Acquisition”), including payment of any fees and expenses relating to the Playa Hotels Acquisition and fees and expenses related to this offering.

Hyatt previously announced that it intends to fund 100% of the $2.6 billion purchase price for the Playa Hotels Acquisition with new debt financing, including the proceeds from this offering and a portion of the proceeds from a senior unsecured delayed draw term loan facility expected to be funded concurrently with the closing of the Playa Hotels Acquisition as part of the previously announced acquisition financing commitment. The offering is not contingent on the consummation of the Playa Hotels Acquisition, and the consummation of the Playa Hotels Acquisition is not contingent on the consummation of this offering.

BofA Securities, J.P. Morgan and Wells Fargo Securities are acting as representatives of the underwriters and joint book-running managers for the offering.

The offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed by the Company with the Securities and Exchange Commission (the “SEC”) and became automatically effective upon filing on August 30, 2023. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained by contacting: BofA Securities, Inc. at +1 800-294-1322, J.P. Morgan Securities LLC collect at +1 212-834-4533 and Wells Fargo Securities LLC at +1 800-645-3751.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
PeopleUncategorized

New Learning & Quality Manager Appointed At Holiday Inn Mumbai International Airport

APPOINTMENT Holiday Inn Mumbai International Airport has appointed Mallika Rai as its...

Uncategorized

Anantara Concorso Roma Reveals Outstanding Line Up of Cars for Inaugural Event

The inaugural Anantara Concorso Roma, presented by UBS, will take place on...

HotelsUncategorized

Anantara Ubud Bali Resort is World’s ‘Best New Hotel’

Minor Hotels has announced that Anantara Ubud Bali Resort has been named...

Uncategorized

Moët Hennessy India Unveils House of Glenmorangie Boutique at Ospree Duty Free, Mumbai

Moët Hennessy India has announced the launch of the House of Glenmorangie...