Simpson Thacher represented the underwriters in a registered public offering by Hyatt Hotels Corporation (“Hyatt”) of $450 million aggregate principal amount of 5.250% Senior Notes due 2029 and $350 million aggregate principal amount of 5.500% Senior Notes due 2034.
Hyatt intends to use the net proceeds from the offering, together with cash on hand, to repay all of its 1.800% notes due 2024 at or prior to their maturity on October 1, 2024. Hyatt intends to use any remaining net proceeds for general corporate purposes and to pay fees and expenses related to the offering.
Hyatt is a global hospitality company with widely recognized, industry-leading brands and a tradition of innovation developed over its sixty-five year history. Hyatt’s portfolio of properties consists of full service hotels and resorts, select service hotels, all-inclusive resorts and other properties, including timeshare, fractional and other forms of residential, vacation and condominium units.
The Simpson Thacher team for the transaction included John C. Ericson, John Strubing and Christina Park, with valuable assistance from summer associate Grace Lim (Capital Markets); Michael Mann and Mohanad Salaimi (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Paige Brinton (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).