secwatch.observer — SEC 8-K summary
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Issuer:     Park Hotels & Resorts Inc. (PK)
CIK:        0001617406
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001617406-24-000050
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Park Hotels upsizes senior notes offering to $550M at 7% due 2030
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- Issued $550M of 7.000% senior notes due 2030 (upsized from $450M); priced at 100% of face value.
- Proceeds plus new $200M+ unsecured term loan to refinance all $650M of existing 7.500% notes due 2025.
- Concurrent tender offer for any and all 2025 notes; untendered notes will be redeemed.
- Interest payable semi-annually, notes mature February 1, 2030; closing expected May 16, 2024.
- Issuers are subsidiaries Park Intermediate Holdings LLC, PK Domestic Property LLC and PK Finance Co-Issuer Inc.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1617406/000161740624000050/0001617406-24-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1617406/000161740624000050/pk-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001617406-24-000050

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