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Park Hotels & Resorts Inc. Announces Closing of $750 Million of 4.875% Senior Secured Notes Due 2029
TYSONS, Va., May 14, 2021 (GLOBE NEWSWIRE) Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) announced today that certain of its subsidiaries, Park Intermediate Holdings LLC (the “Operating Company”), PK Domestic Property LLC (“PK Domestic LLC”) and PK Finance Co-Issuer Inc. (together with the Operating Company and PK Domestic LLC, the “Issuers”), completed the previously announced offering of $750 million aggregate principal amount of 4.875% senior secured notes due 2029 (the “Notes”). The Notes will pay interest semi-annually in arrears, at a rate of 4.875% per year, and will mature on May 15, 2029. The Notes are guaranteed by Park and certain subsidiaries of the Operating Company that guarantee the Company’s senior credit facilities and existing senior secured notes due 2025 and 2028. The Notes are secured, subject to permitted lien ....

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