ORLANDO, Fla. , Nov. 12, 2024 /PRNewswire/ -- Xenia Hotels & Resorts, Inc.
(NYSE: XHR ) ("Xenia" or the "Company") today announced that its operating partnership, XHR LP (the "Issuer"), has successfully priced its offering of $400 million aggregate principal amount of 6.625% senior notes due 2030 (the "Notes") at a price equal to 100% of face value. The offering is expected to close on November 25, 2024 , subject to customary closing conditions.
The Notes, which will pay interest semi-annually, have a fixed annual interest rate of 6.625% and will mature on May 15, 2030 . The Notes will be senior obligations of the Issuer and will be fully and unconditionally guaranteed by the Company and certain of the Issuer's subsidiaries that incur or guarantee the credit facilities or certain other indebtedness of the Issuer, subject to the terms of the indenture governing the Notes.
The offering was upsized from the previously announced amount of $365 million . The Issuer intends to use the net proceeds of the offering, together with borrowings under the Company's amended and restated credit agreement, dated November 4, 2024 (the "Credit Agreement"), to redeem in full its outstanding 6.375% senior notes due 2025, to pay certain fees and expenses in connection with, or otherwise related to, the offering of the Notes and the use of proceeds therefrom and from the Credit Agreement, and for general corporate purposes.
The Notes and the related guarantees have not been, and will not be, regis.
