Hyatt Hotels Corporation, a global leader in the hospitality industry, today announced the pricing of its public offering of $150 million in senior notes due 2029 (the “2029 Notes”) and $450 million in senior notes due 2031 (the “2031 Notes”).

The 2029 Notes will carry a fixed annual interest rate of 5.250%, while the 2031 Notes will offer a fixed rate of 5.375%. The 2029 Notes will be a further issuance of Hyatt’s previously issued 5.250% senior notes due 2029, first issued on June 17, 2024. These new notes will be combined with the existing 2029 Notes to form a single series, with identical terms, except for the offering price and issue date. Upon completion of the offering, Hyatt will have a total of $600 million in 5.250% senior notes due 2029 outstanding.

The offering is expected to close on November 20, 2024, subject to customary closing conditions. The Company plans to use the net proceeds to redeem its 5.375% senior notes due 2025 (the “2025 Notes”) before or at their maturity on April 23, 2025, as well as for general corporate purposes. Additionally, part of the proceeds will be used to cover fees and expenses related to the offering.

Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, and Truist Securities, Inc. are acting as the underwriters and joint book-running managers for the offering.

This offering is being conducted under Hyatt’s shelf registration statement filed with the Securities and Exchange Commission (SEC) on August 30, 2023. A preliminary prospectus supplement and base prospectus outlining the terms of the offering have been filed with the SEC.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities, nor will any such offer or sale occur in jurisdictions where such actions would be unlawful prior to registration or qualification under the securities laws of those jurisdictions.

The post Hyatt Hotels Corporation Announces Successful Pricing of $600 Million Senior Notes Due 2029 and 2031 appeared first on Travel And Tour World.