Hyatt issues $600M in senior notes at 5.250%-5.375% to refinance 2025 notes

Hyatt Hotels Corp

Issued $150M of 5.250% Senior Notes due 2029 and $450M of 5.375% Senior Notes due 2031.
Net proceeds of ~$594.6M will be used to repay $600M of 5.375% senior notes due April 2025.
Remaining net proceeds for general corporate purposes and offering expenses.
Notes rank equally with other unsecured unsubordinated debt; structurally subordinated to subsidiary liabilities.
Make-whole redemption provisions apply: 2029 notes at T+15 bps, 2031 notes at T+20 bps before certain dates.

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