New Issue-Starwood Hotels sells $250 mln in 10-yr notes

Thu Nov 5, 2009 3:25pm EST
 
[-] Text [+]
  Nov 5 (Reuters) - Starwood Hotels & Resorts Worldwide Inc
(HOT.N) on Thursday sold $250 million of senior unsecured
notes, said IFR, a Thomson Reuters service.
  Bank of America Merrill Lynch and Citi were the active
bookrunning managers for the sale. Calyon, RBS, and Scotia were
the passive bookrunning managers for the sale.
BORROWER: STARWOOD HOTELS & RESORTS WORLDWIDE INC
AMT $250 MLN      COUPON 7.15 PCT     MATURITY 12/1/2019 
TYPE SR NTS       ISS PRICE 97.559    FIRST PAY 6/1/2010 
MOODY'S Ba1       YIELD 7.50 PCT      SETTLEMENT 11/20/2009
S&P DOUBLE-B      SPREAD 396.3 BPS    PAY FREQ SEMI-ANNUAL
FITCH BB-PLUS      MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS

 

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