debt
confidence high
sentiment positive
materiality 0.65
Marriott prices $1B debt tender offer and issues $700M of 2.750% notes due 2033
MARRIOTT INTERNATIONAL INC /MD/
- Tender offer for up to $1B of three series (5.750% EE, 3.750% P, 3.750% V) priced; early settlement Sept 23.
- Oversubscribed; only Series EE Notes accepted on prorated basis; Series P and V not accepted.
- Issued $700M of 2.750% Series II Notes due 2033; net proceeds ~$693M to fund tender offer.
- Notes mature Oct 15, 2033; interest payable Apr 15 and Oct 15 starting Apr 15, 2022.