debt
confidence high
sentiment neutral
materiality 0.50
Marriott issues $1.5B in three tranches of senior notes due 2027-2035
MARRIOTT INTERNATIONAL INC /MD/
- $400M 4.200% Series TT Notes due 2027, $500M 4.500% Series UU Notes due 2031, $600M 5.250% Series VV Notes due 2035.
- Net proceeds of ~$1.477B after underwriting discount and expenses.
- Proceeds for general corporate purposes: working capital, capex, acquisitions, stock repurchases or debt repayment.
- Notes are redeemable at Marriott's option under specified terms; interest payable semi-annually.