Starwood to offer new 10-year senior notes
Starwood Hotels to offer new 10-year senior notes to buy back other notes
- On 4:47 pm EST, Thursday November 5, 2009
WHITE PLAINS, N.Y. (AP) -- Starwood Hotels & Resorts Worldwide Inc. said Thursday it will offer 10-year senior notes in a public offering.
The hotel chain operator, based in White Plains, N.Y., plans to use the proceeds to buy $200 million in aggregate principal amount of its outstanding 7.875 senior notes due 2012 and up to $100 million in aggregate principal amount of outstanding 6.250 percent senior notes due 2013.
The joint bookrunning managers are Citigroup Global Markets Inc., Banc of America Securities LLC, Calyon Securities Inc., RBS Securities Inc. and Scotia Capital Inc.
Starwood shares rose $1.51, or 5.1 percent, to close at $31.25.
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