BETHESDA, Md., June 01, 2017 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NYSE:HST) today announced that it
has taken advantage of current market conditions and amended and extended its existing $1 billion senior unsecured revolver
scheduled to mature in 2018 and its $500 million term loan scheduled to mature in 2017.
The amended facility will extend the maturity for both the revolver and term loan to 2022 (including extensions)
and, based on current debt ratings, the initial interest rate is one-month Libor plus 100 basis points on the revolver and 110
basis points on the term loan (all-in rates of approximately 2.0% and 2.1% today, respectively, for U.S. dollar denominated
borrowings). The Company’s separate $500 million 2015 term loan was not modified and will remain outstanding, maturing in 2020.
Gregory J. Larson, executive vice president and chief financial officer, said, “Due to the Company’s strong
investment-grade balance sheet, we have the financial flexibility to opportunistically manage our maturity schedule while remaining
within our target leverage range as this transaction demonstrates. With this extension, we have no meaningful debt maturities until
September 2020. We will continue to prudently deploy capital for long-term accretive growth opportunities while advancing our
redevelopment initiatives and returning capital to stockholders.”
About Host Hotels & Resorts
Host Hotels & Resorts, Inc. is an S&P 500 and Fortune 500 company and is the largest lodging real
estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns
90 properties in the United States and 7 properties internationally totaling approximately 53,900 rooms. The Company also
holds non-controlling interests in seven joint ventures, including one in Europe that owns 10 hotels with approximately 3,900
rooms. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium
brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, Le Meridien®, The Luxury Collection®, Hyatt®,
Fairmont®, Hilton®, Swissôtel®, ibis®, Pullman®, and Novotel® as well as independent brands in the operation of properties in over
50 major markets worldwide. For additional information, please visit the Company's website at www.hosthotels.com.
*This press release contains registered trademarks that are the exclusive property of their respective owners.
None of the owners of these trademarks has any responsibility or liability for any information contained in this press
release.
Bret D.S. McLeod Senior Vice President 240.423.1542 Gee Lingberg Vice President 240.744.5275
