Wednesday, June 26, 2024 Choice Hotels International, Inc. has announced the pricing of $600.0 million in senior notes through an underwritten, registered public offering.
These notes, which will mature on August 1, 2034, carry an interest rate of 5.850% and will be issued at 98.929% of their par value.
They will be unsecured and unsubordinated obligations of the Company. The net proceeds from this offering are intended primarily to repay a $500.0 million unsecured term loan.
Any remaining funds may be allocated for working capital and general corporate purposes, including the repayment of borrowings under the Company’s $850.0 million senior unsecured revolving credit facility. The offering is expected to close around July 2, 2024, subject to customary closing conditions.
Wells Fargo Securities, LLC, BofA Securities, Inc., Goldman Sachs & Co. LLC, and Truist Securities, Inc.
are serving as joint book-running managers for the offering. The offering will be conducted exclusively through a preliminary prospectus supplement and the accompanying prospectus, which can be obtained from: Additionally, the prospectus included in the registration statement can be accessed from the SEC’s website. This announcement does not constitute an offer to sell or a solicitation to buy any security, nor will there be any sale of these securities in any jurisdiction where such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of s.
