Lodging real estate investment trust Host Hotels & Resorts Inc.'s operating partnership aims to issue an undisclosed amount of its series H senior unsecured notes due 2029.
The REIT plans to apply the net proceeds toward one or more eligible green projects, including its previous acquisitions of the Andaz Maui at Wailea Resort in Hawaii and 1 Hotel South Beach in Miami Beach, Fla.
The REIT aims to initially use the net proceeds from the proposed offering, along with cash on hand, to redeem or repay debt. This includes the full redemption of the outstanding $300 million of its series Z senior notes for an estimated price of $324 million and the outstanding $350 million of series B senior notes for $378 million.
Wells Fargo Securities, Deutsche Bank Securities, Goldman Sachs & Co. LLC, BofA Merrill Lynch, J.P. Morgan and Morgan Stanley are joint book-running managers for the offering. The Bank of New York Mellon is the trustee.
