Starwood to Offer Senior Notes Due 2019
WHITE PLAINS, NY, November 6, 2009 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT), announced today that it intends to offer, subject to market and other conditions, 10-year senior notes through an underwritten public offering.
Starwood intends to use the net proceeds of the offering to purchase up to $200 million aggregate principal amount (subject to increase by Starwood) of its outstanding 7.875% Senior Notes due 2012 and up to $100 million aggregate principal amount (subject to increase by Starwood) of its outstanding 6.250% Senior Notes due 2013 pursuant to a cash tender offer also announced by Starwood today. If the tender offer is not completed, or there are any remaining net proceeds that are not so applied, then the remaining proceeds from the offering will be used for general corporate purposes.
The joint book-running managers for the offering are Citigroup Global Markets Inc., Banc of America Securities LLC, Calyon Securities (USA) Inc., RBS Securities Inc. and Scotia Capital (USA) Inc.
The offering will be made solely by means of a prospectus. Interested parties may obtain a copy of the preliminary prospectus supplement and related base prospectus for the offering by contacting Citigroup Global Markets Inc. at Attn: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, telephone: (800) 831-9146.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
