CHICAGO--(BUSINESS WIRE)--Apr. 15, 2013--
Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today
announced that on May 10, 2013, it will redeem all of its outstanding
5.750% senior notes due 2015 (the “Notes”), of which an aggregate
principal amount of $250 million is currently outstanding.
In accordance with the terms of the Notes, the redemption price, as
calculated by the Quotation Agent (as defined in the indenture governing
the Notes), will be $281,189,097.22. The redemption price is equal to
the sum of the present values of the remaining scheduled payments of
principal and interest on the Notes from May 10, 2013 to August 15, 2015
(except for accrued but unpaid interest), discounted to May 10, 2013 on
a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Treasury Rate (as defined in the indenture governing the
Notes) plus 50 basis points, plus accrued but unpaid interest on the
Notes to, but not including, May 10, 2013.
FORWARD-LOOKING STATEMENTS
Forward-Looking Statements in this press release, which are not
historical facts, are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Our actual
results, performance or achievements may differ materially from those
expressed or implied by these forward-looking statements. In some cases,
you can identify forward-looking statements by the use of words such as
“may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,”
“believe,” “estimate,” “predict,” “potential,” “continue,” “likely,”
“will,” “would” and variations of these terms and similar expressions,
or the negative of these terms or similar expressions. Such
forward-looking statements are necessarily based upon estimates and
assumptions that, while considered reasonable by us and our management,
are inherently uncertain. Factors that may cause actual results to
differ materially from current expectations include, among others, the
rate and pace of economic recovery following economic downturns; levels
of spending in business and leisure segments as well as consumer
confidence; declines in occupancy and average daily rate; if our
third-party owners, franchisees or development partners are unable to
access the capital necessary to fund current operations or implement our
plans for growth; changes in the competitive environment in our industry
and the markets where we operate; our ability to access the capital
markets; and other risks discussed in the Company's filings with the
U.S. Securities and Exchange Commission, including our Annual Report on
Form 10-K, which filings are available from the SEC. We caution you not
to place undue reliance on any forward-looking statements, which are
made as of the date of this press release. We undertake no obligation to
update publicly any of these forward-looking statements to reflect
actual results, new information or future events, changes in assumptions
or changes in other factors affecting forward-looking statements, except
to the extent required by applicable laws. If we update one or more
forward-looking statements, no inference should be drawn that we will
make additional updates with respect to those or other forward-looking
statements.
Source: Hyatt Hotels Corporation
Hyatt Hotels Corporation
Investors:
Atish Shah, 312.780.5427
atish.shah@hyatt.com