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Host Hotels & Resorts to redeem 2 series of notes

Host Hotels & Resorts Inc. said its operating partnership plans a full redemption of its outstanding $300 million of series Z senior notes and outstanding $350 million of series B senior notes.

The redemption price will equate to 100.000% of the principal amount, plus a make-whole premium and accrued and unpaid interest thereon to the Oct. 15 redemption date.

The lodging real estate investment trust said Host Hotels & Resorts LP intends to use net proceeds from its recently priced $650 million offering of series H senior notes, along with cash on hand, to fund the redemption.