Host Hotels introduces $1bn credit facility

24th November 2011 (Last Updated November 24th, 2011 18:30)

Host Hotels & Resorts has closed its new $1bn revolving credit facility, which represents an increase over its existing facility, with a syndicate of banks.

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.

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.