Hyatt Hotels Corp (H): debt financing — Hyatt enters $1.7B delayed draw term loan to finance Playa acquisition

Hyatt Hotels Corp

Credit agreement provides $1.7B delayed draw term loan facility; no borrowings outstanding as of April 11, 2025.
Matures three years after funding; interest at base rate+0.000%-0.425% or term SOFR+0.815%-1.425% based on debt ratings.
Unused commitment fee of 0.15% on daily undrawn amount starting July 10, 2025; borrowing available until Oct 9, 2025.
Proceeds to finance portion of consideration for Playa Hotels & Resorts acquisition and refinance Playa's existing credit agreement.
Mandatory prepayment triggers include debt incurrences, equity issuances, and asset sales; $500M threshold for second-anniversary prepayment.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Hyatt Hotels Corp incurred term loan of $1.7 billion with Bank of America, N.A. at term SOFR plus a range of 0.815% to 1.425% per annum maturing third anniversary of the Funding Date.

Instrument: term loan
Principal: $1.7 billion
Counterparty: Bank of America, N.A.
Rate: term SOFR plus a range of 0.815% to 1.425% per annum
Maturity: third anniversary of the Funding Date
Event: incurrence

Exact text from the filing

the Credit Agreement provides for a $1.7 billion delayed draw term loan facility

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Source: SEC EDGAR

accession 0001104659-25-034703

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