(Source: PRNewswire)
BETHESDA, Md., April 24 /PRNewswire-FirstCall/ -- Host Hotels & Resorts, Inc. (NYSE: HST) today announced the pricing of its public offering of 66,000,000 shares of common stock at a price of $6.60 per share. Merrill Lynch & Co., Deutsche Bank Securities, Goldman, Sachs & Co. and J.P.Morgan acted as joint book-running managers for this offering, and ABN AMRO Incorporated, Barclays Capital, BNY Mellon Capital Markets, LLC, Calyon Securities (USA) Inc., Citi, Raymond James, Scotia Capital, UBS Investment Bank and Wachovia Securities acted as co-managers. The underwriters will be granted a 30-day option to purchase up to an additional 9,750,000 shares of common stock to cover over-allotments, if any.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060417/HOSTLOGO )
The Company intends to use the net proceeds from the offering for general corporate purposes and the repayment of indebtedness.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction where such an offering or sale would be unlawful.
Copies of the prospectus supplement and the accompanying prospectus relating to these securities may be obtained from Merrill Lynch & Co., Attention: Prospectus Department, 4 World Financial Center, New York, New York 10080, or from Deutsche Bank Securities, Attention: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, telephone: (800) 503-4611 or e-mail at prospectusrequest@list.db.com.
About Host Hotels & Resorts
Host Hotels & Resorts, Inc. is a lodging real estate investment trust and owner of luxury and upper upscale hotels. The Company currently owns 116 properties with approximately 63,000 rooms, and also holds a minority interest in a joint venture that owns 11 hotels in Europe with over 3,500 rooms. The Company partners with premium brands such as Marriott(R), Ritz-Carlton(R), Westin(R), Sheraton(R), W(R), St. Regis(R), The Luxury Collection(R), Hyatt(R), Fairmont(R), Four Seasons(R), Hilton(R) and Swissotel(R)* in the operation of properties in over 50 major markets worldwide.
Note: This press release contains forward-looking statements within the meaning of federal securities regulations. These forward- looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "continue" and other similar terms and phrases, including references to assumption and forecasts of future results.
