Park Hotels & Resorts Announces Final Results of Tender Offer

Core Points - Park Hotels & Resorts Inc. announced the expiration and final results of its cash Tender Offer for its outstanding 7.500% Senior Notes due 2025 [1][2] - The Issuers purchased a total of $311,473,000 in principal amount of the Notes that were validly tendered [2] - Following the settlement of the Tender Offer, a notice of redemption was issued for all outstanding Notes at a redemption price of 100% of the principal amount plus accrued interest, with the redemption date expected on June 1, 2024 [3] Summary by Sections Tender Offer Details - The Tender Offer expired on May 13, 2024, at 5:00 p.m. New York City time [1] - The total principal amount of the Notes outstanding was $650,000,000, with $311,473,000 tendered and accepted for purchase [3] Redemption Information - A notice of redemption was issued for all remaining outstanding Notes at a price of 100% of the principal amount plus accrued interest [3] - The redemption date is anticipated to be June 1, 2024, after which no Notes will be outstanding [3] Company Overview - Park Hotels & Resorts is one of the largest publicly traded lodging REITs, with a portfolio of 43 premium-branded hotels and resorts totaling over 26,000 rooms [6]