Hotel and leisure company Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) said Monday it repurchased $300 million of senior notes tendered in an offer, according to Associated Press.
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The cash tender offer for the 2012 and 2013 notes expired Friday.
Starwood, whose brands include St. Regis, Sheraton and Westin, said approximately $194.9 million of the notes due 2012 were tendered before the offer expired, while about $134.3 million of the notes due 2013 were tendered.
The amount of 2013 notes tendered surpassed the maximum tender amount, so Starwood said it accepted those notes for purchase on a pro rata basis among tendering noteholders, for a total of $105.1 million. Any notes not accepted for payment were returned to the noteholders at no charge.
Starwood currently has 982 properties in 100 countries.
The company's stock added 19 cents to $33.63 in afternoon trading.
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