Host Hotels & Resorts Inc.'s operating partnership fully redeemed its $300 million of 6% series Z senior notes due 2021 and $350 million of 5.25% series B senior notes due 2022.

Host Hotels & Resorts LP used the net proceeds from its recently closed $650 million offering of 3.375% senior notes due 2029 to redeem the notes with available cash.

The refinancing has extended the lodging real estate investment trust's weighted average debt maturity to 5.9 years from 4.6 years, reduced its weighted average interest rate to 3.96% from 4.32% and eliminated its debt maturities until 2023.