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Host Hotels & Resorts, Inc. Announces $500 Million Term Loan

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July 26, 2012

Host Hotels & Resorts, Inc. Announces $500 Million Term Loan

BETHESDA, Md., July 26, 2012 /PRNewswire/ –?Host Hotels & Resorts, Inc. (NYSE: HST) today announced that it has closed on a term loan for $500 million (“Term Loan”) through an amendment and restatement of its existing credit facility.? The Term Loan has a five-year maturity and the interest rate spread depends on the Company’s leverage ratio.? Based on the Company’s current leverage ratio, the Term Loan has a floating interest rate of LIBOR plus 180 basis points (or approximately a 2.0% all-in interest rate).? ?Proceeds from the Term Loan will be used to repay a portion of the revolver draw associated with the Company’s recent acquisition of the 888-room Grand Hyatt Washington, D.C., …

Source: Host Hotels & Resorts, Inc

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