trending Market Intelligence /marketintelligence/en/news-insights/trending/YGBWuhdpJolxy02U0go4IQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Sunstone Hotel prices series F preferred stock offering

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

Sunstone Hotel prices series F preferred stock offering

Sunstone HotelInvestors Inc. priced an underwritten public offering of its preferredstock for gross proceeds of $75 million.

The offering of 3.0 million shares of Sunstone's 6.45% seriesF cumulative redeemable preferred stock is expected to close May 17, subject tocustomary closing conditions.

The company intends to contribute the net proceeds from the offeringto its operating partnership, Sunstone Hotel Partnership LLC, in exchange for preferredmembership units in the unit. Sunstone Hotel Partnership plans to use the fundsto fully repay the outstanding mortgage loan secured by the Renaissance Orlando at SeaWorld. Any excess netproceeds will be used for general corporate purposes.

Wells Fargo Securities LLC is acting as the sole book-runningmanager.