{"schema_version":"secwatch.filing_event.v1","accession":"0001617406-24-000056","form_type":"8-K","ticker":"PK","cik":"0001617406","company_name":"Park Hotels & Resorts Inc.","filed_at":"2024-05-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:19.267754+00:00","generated_at":"2026-06-01T21:12:00.710693+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Park Hotels issues $550M 7.000% notes due 2030 and $200M term loan to refinance 2025 notes","bullets":["Issued $550M 7.000% senior notes due 2030; also closed $200M unsecured term loan due 2027.","Proceeds used to purchase $311.5M of outstanding 7.500% 2025 notes tendered; remaining to be redeemed June 1, 2024.","Term loan bears interest at SOFR + 1.40%-2.70% or base rate + 0.40%-1.70%; no mandatory amortization.","New credit amendment excludes Hilton San Francisco Union Square and Parc 55 from leverage ratio calculations.","No change to $950M revolver; borrowings outstanding zero, $4M in letters of credit."],"urls":{"canonical":"https://secwatch.observer/filing/0001617406-24-000056","json":"https://secwatch.observer/filing/0001617406-24-000056.json","markdown":"https://secwatch.observer/filing/0001617406-24-000056.md","text":"https://secwatch.observer/filing/0001617406-24-000056.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1617406/000161740624000056/0001617406-24-000056-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1617406/000161740624000056/pk-20240516.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-01T21:12:00.710693+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5e05260f0f6f4bca086881240bb4c22e9f9e5ffa","claim":"Park Hotels & Resorts Inc. incurred senior notes of $550 million aggregate principal amount with U.S. Bank Trust Company, National Association at 7.000% per annum maturing February 1, 2030.","evidence_excerpt":"On May 16, 2024, Park Intermediate Holdings LLC (“PIH”), PK Domestic Property LLC (“PK Domestic LLC”) and PK Finance Co-Issuer Inc. (“Corporate Co-Issuer” and, together with PK Domestic LLC, the “Co-Issuers” and, the Co-Issuers together with PIH, the “Issuers”), direct and indirect subsidiaries of Park Hotels & Resorts Inc. (the “Company”), issued $550 million aggregate principal amount of 7.000% senior notes due 2030 (the “Notes”) under an indenture (the “Indenture”), dated as of May 16, 2024, among the Issuers, the Company, the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1617406/000161740624000056/0001617406-24-000056-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$550 million aggregate principal amount"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association"},{"label":"Rate","value":"7.000% per annum"},{"label":"Maturity","value":"February 1, 2030"},{"label":"Event","value":"incurrence"}]},{"claim_id":"6e4fcc1a90a8c3166e1b05820ee7fcecd41df594","claim":"Park Hotels & Resorts Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $550 million aggregate principal amount of 7.000% senior notes due 2030 (effective 2024-05-16).","evidence_excerpt":"7.000% Senior Notes Due 2030 On May 16, 2024, Park Intermediate Holdings LLC (“PIH”), PK Domestic Property LLC (“PK Domestic LLC”) and PK Finance Co-Issuer Inc. (“Corporate Co-Issuer” and, together with PK Domestic LLC, the “Co-Issuers” and, the Co-Issuers together with PIH, the “Issuers”), direct and indirect subsidiaries of Park Hotels & Resorts Inc. (the “Company”), issued $550 million aggregate principal amount of 7.000% senior notes due 2030 (the “Notes”) under an indenture (the “Indenture”), dated as of May 16, 2024, among the Issuers, the Company, the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1617406/000161740624000056/0001617406-24-000056-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association"},{"label":"Value","value":"$550 million aggregate principal amount of 7.000% senior notes due 2030"},{"label":"Effective","value":"2024-05-16"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}