Host Hotels & Resorts has closed its new $1bn revolving credit facility, which represents an increase over its existing facility, with a syndicate of banks.
The existing $400m credit facility will mature in September 2012.
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The new facility has an initial maturity of November 2015, with an option to extend the term for one year.
Host Hotels executive vice-president and CFO Larry Harvey said that the new facility will improve the company’s liquidity and flexibility.
