Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H), a leading global hospitality company, announced today the pricing of its public offering of $150,000,000 aggregate principal amount of senior notes due 2029 (the “2029 Notes”), which will bear interest at a fixed annual rate of 5.250% and $450,000,000 aggregate principal amount of senior notes due 2031, which will bear interest at a fixed annual rate of 5.375%.
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HyattHyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H), a leading global hospitality company, announced today the pricing of its public offering of $150,000,000 aggregate principal amount of senior notes due 2029 (the “2029 Notes”), which will bear interest at a fixed annual rate of 5.250% and $450,000,000 aggregate principal amount of senior notes due 2031, which will bear interest at a fixed annual rate of 5.375%.
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Image: Hyatt
The 2029 Notes will be a further issuance of the Company’s 5.250% senior notes due 2029, of which $450 million aggregate principal amount was issued on June 17, 2024 (the “existing 2029 Notes”). The 2029 Notes will form a single series with the existing 2029 Notes and have the same terms, other than the initial offering price and the issue date. Following the completion of the offering, the Company will have $600,000,000 aggregate principal amount of 5.250% senior notes due 2029 outstanding.
The offering is expected to close on November 20, 2024, subject to customary closing conditions.
The Company intends to use the net proceeds of the offering to repay all of the Company’s 5.375% notes due 2025 at or prior to their maturity on April 23, 2025 (the “2025 Notes”) and for general corporate purposes, and to pay fees and expenses related to this offering.
Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC and Truist Securities, Inc. 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: Wells Fargo Securities, LLC at +1 800-645-3751, Goldman Sachs & Co. LLC at +1 866-471-2526, and Truist Securities, Inc. at +1 800-685-4786.
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.
Source: Hyatt
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