Extended Stay America, Inc. Announces Proposed Private Offering Of Notes
EXTENDED STAY AMERICA (STAY)
Last extended stay america earnings: 2/26 04:30 pm
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US:NYSE Investor Relations:
aboutstay.com
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Source: GlobeNewswire
CHARLOTTE, N.C., Sept. 10, 2019 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. (Nasdaq:STAY) (the “Company”) announced today that its subsidiary, ESH Hospitality, Inc. (“ESH REIT”), intends to offer $500 million aggregate principal amount of Senior Notes due 2027 (the “Notes”), subject to market and other conditions, in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). ESH REIT intends to use the net proceeds from this offering, together with cash on hand, to repay a portion of its outstanding borrowings under its existing term loan and to pay related fees and expenses. The Notes will be fully and unconditionally guaranteed, jointly and severally, on an unsecured basis by certain of ESH REIT’s subsidiaries. The Notes will be offered and sold to qualified institutional buyers in the U.S. pursuant to Rule 144A and outside the U.S. pursuant to Regulation S under the Securities Act. The Notes have n
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