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Park Hotels & Resorts to Offer $650 Million in Senior Notes

05/11/2021 05:11

09:06 AM EDT, 05/11/2021 (MT Newswires) -- Park Hotels & Resorts (PK) said Tuesday it is planning to offer $650 million of senior secured notes due 2029.

Proceeds from the offering will be used to repay a portion of the outstanding amounts under the company's revolving credit facility, as well as to repay a portion of the company's term loan facility maturing in August 2024.

Shares of the company were down more than 4% during the premarket trading activity on Tuesday.

Price: 21.18, Change: -0.89, Percent Change: -4.03