Extended Stay America Inc.'s real estate investment trust unit priced its $750.0 million offering of 4.625% senior notes due 2027.
ESH Hospitality Inc. upsized its offering from $500.0 million. The offering is slated to close Sept. 18.
The unit will use the gross proceeds to repay $500.0 million of outstanding borrowings under its existing term loan, as well as to pay transaction-related fees and expenses, with the remaining funds going toward general corporate purposes.
