Choice Hotels Intents to Offer Senior Notes Amounting $250 M (CHH)
Choice Hotels International, Inc., (NYSE: CHH) announced its intention to offer, subject to market and other conditions, $250 million aggregate principal amount of senior unsecured notes due 2020. The notes will be unsecured, unsubordinated obligations of the Company and will be guaranteed by certain U.S. subsidiaries of the Company.
The Company intends to use the proceeds from the notes offering to repay other outstanding indebtedness under its unsecured revolving credit facility, without any corresponding reduction in the availability of future borrowings under the credit facility.
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