The largest lodging real estate investment trust priced an offering of $650 million in bonds and announced a third quarter dividend.
Host Hotels & Resorts Inc. of Bethesda said Host Hotels and Resorts L.P., for whom it acts as sole general partner, has priced its offering of 3 3/8% senior notes due 2029. Host expects net proceeds to be about $640.2 million and for the offer to close on Sept. 26. Host L.P. will use the money raised to to redeem other debt due in 2021 or 2022.
Host also today announced it would pay a regular quarterly cash dividend of 20 cents per share on Oct. 15 to stockholders of record as of Sept. 30, 2019.