Xenia Hotels & Resorts Announces Upsizing and Pricing of Senior Notes Offering
Xenia Hotels & Resorts (NYSE: XHR) announced that its operating partnership, XHR LP, has priced a $400 million offering of senior notes due 2030, upsized from the previously announced $365 million. The notes carry a 6.625% fixed annual interest rate and will mature on May 15, 2030. The proceeds will be used to redeem outstanding 6.375% senior notes due 2025, pay related fees, and for general corporate purposes. The notes will be offered exclusively to qualified institutional buyers and certain non-U.S. persons in offshore transactions.
Xenia Hotels & Resorts (NYSE: XHR) ha annunciato che la sua partnership operativa, XHR LP, ha fissato il prezzo di un'offerta di 400 milioni di dollari di obbligazioni senior con scadenza nel 2030, aumentata rispetto ai 365 milioni di dollari precedentemente annunciati. Le obbligazioni offrono un tasso di interesse annuale fisso del 6,625% e scadranno il 15 maggio 2030. I proventi saranno utilizzati per rimborsare obbligazioni senior esistenti con un tasso del 6,375% in scadenza nel 2025, pagare le relative spese e per scopi aziendali generali. Le obbligazioni saranno offerte esclusivamente a compratori istituzionali qualificati e a determinate persone non statunitensi in transazioni all'estero.
Xenia Hotels & Resorts (NYSE: XHR) anunció que su sociedad operativa, XHR LP, ha fijado el precio de una oferta de 400 millones de dólares de notas senior con vencimiento en 2030, aumentada desde los 365 millones de dólares anunciados anteriormente. Las notas llevan un tasa de interés anual fija del 6,625% y vencerán el 15 de mayo de 2030. Los ingresos se utilizarán para canjear notas senior existentes con un 6,375% de interés que vencen en 2025, pagar las tarifas relacionadas y para fines corporativos generales. Las notas se ofrecerán exclusivamente a compradores institucionales calificados y a ciertos no estadounidenses en transacciones fuera de Estados Unidos.
제니아 호텔 & 리조트 (NYSE: XHR)는 운영 파트너십인 XHR LP가 4억 달러 규모의 2030년 만기 선순위 채권 공급 가격을 확정했다고 발표했습니다. 이는 이전에 발표된 3억 6천 5백만 달러에서 확대된 것입니다. 이 채권은 연 6.625%의 고정 이자율을 가지며, 2030년 5월 15일에 만기가 됩니다. 이 수익금은 2025년 만기 6.375% 선순위 채권을 상환하고, 관련 수수료를 지급하며, 일반 기업 용도로 사용될 예정입니다. 이 채권은 자격 있는 기관 구매자 및 일부 비미국인에게만 해외 거래로 제공됩니다.
Xenia Hotels & Resorts (NYSE: XHR) a annoncé que son partenariat opérationnel, XHR LP, a fixé le prix d'une offre de 400 millions de dollars d'obligations senior arrivant à échéance en 2030, augmentée par rapport aux 365 millions de dollars précédemment annoncés. Les obligations portent un taux d'intérêt annuel fixe de 6,625% et arriveront à échéance le 15 mai 2030. Les produits seront utilisés pour racheter des obligations senior existantes à 6,375% arrivant à échéance en 2025, payer les frais associés et pour des fins générales de l'entreprise. Les obligations seront offertes exclusivement à des acheteurs institutionnels qualifiés et à certaines personnes non américaines dans des transactions offshore.
Xenia Hotels & Resorts (NYSE: XHR) gab bekannt, dass ihre Betriebspartnerschaft, XHR LP, ein Angebot von 400 Millionen Dollar an Senior Notes mit Fälligkeit im Jahr 2030 zu einem Preis festgelegt hat, das von den zuvor angekündigten 365 Millionen Dollar aufgestockt wurde. Die Notes haben einen festen Zinssatz von 6,625% jährlich und laufen am 15. Mai 2030 aus. Die Erlöse werden verwendet, um ausstehende 6,375% Senior Notes mit Fälligkeit 2025 einzulösen, um damit verbundene Gebühren zu zahlen und für allgemeine Unternehmenszwecke. Die Notes werden ausschließlich qualifizierten institutionellen Käufern und bestimmten Nicht-US-Personen in Offshore-Transaktionen angeboten.
- Successful upsizing of notes offering from $365M to $400M indicating strong investor interest
- Refinancing of existing debt with slightly longer maturity (2030 vs 2025)
- Higher interest rate on new notes (6.625%) compared to existing notes (6.375%)
- Increased debt obligation from $365M to $400M
Insights
This debt refinancing represents a strategic financial move by Xenia Hotels & Resorts. The company has successfully upsized its senior notes offering from
The pricing at
The offering was upsized from the previously announced amount of
The Notes and the related guarantees have not been, and will not be, registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "Securities Act"), any state securities laws or the securities laws of any other jurisdiction. The Notes may not be offered or sold in
This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities. In addition, this press release will not constitute a notice of redemption with respect to the
About Xenia Hotels & Resorts, Inc.
Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT that invests in uniquely positioned luxury and upper upscale hotels and resorts, with a focus on the top 25 lodging markets as well as key leisure destinations in
This press release contains statements as to the Company's beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe the Company's future plans, strategies and expectations. Forward-looking statements are generally identifiable by use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "guidance," "predict," "potential," "continue," "likely," "will," "would," "illustrative," and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include, among others, statements about our plans, strategies, or other future events. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, (i) general economic uncertainty and a contraction in the
For further information about the Company's business and financial results, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of the Company's SEC filings, including, but not limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which may be obtained at the Investor Relations section of the Company's website at www.xeniareit.com.
All information in this press release is as of the date of its release. The Company undertakes no duty to update the statements in this press release to conform the statements to actual results or changes in the Company's expectations.
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SOURCE Xenia Hotels & Resorts, Inc.
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