Starwood to Sell $1.5B of Senior Notes

WHITE PLAINS, NY-Starwood Hotels & Resorts Worldwide Inc. yesterday reports its intent to sell $1.5 billion of senior notes in two traunches: a $700 million principal amount, due to mature in 2007, and an $800 million principal amount, due to mature in 2012.

By Michael Gilliard | April 11, 2002 at 01:01 AM

In a prepared statement, Starwood expects to use the proceeds to repay all of its senior secured notes facility and a portion of its senior credit facility.

Starwood Hotels & Resorts Worldwide Inc. currently owns or manages 740 properties and employs 110,000 employees worldwide. Major markets for the company are North America, Europe, Asia, Latin America and Africa, according to the company site.

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