debt
confidence high
sentiment neutral
materiality 0.55
Hyatt issues $450M 5.250% notes due 2029 and $350M 5.500% notes due 2034
Hyatt Hotels Corp
- Net proceeds ~$787.5M; to repay 1.800% senior notes due Oct 1, 2024 and general corporate purposes.
- 2029 notes mature June 30, 2029; 2034 notes mature June 30, 2034, interest payable semiannually.
- Notes rank equally with unsecured unsubordinated debt; structurally subordinated to subsidiary liabilities.
- Change of control put at 101% of principal plus accrued interest.
- Underwriters include BofA Securities, Deutsche Bank Securities, J.P. Morgan Securities, Scotia Capital.