SPRINGFIELD, MO— John Q. Hammons Hotels, L.P. has sold $510 million of its 8-7/8% first mortgage notes due 2012 to certain qualified institutional investors and overseas purchasers in a private placement. The company also announced the completion of its tender offer to purchase its outstanding 8-7/8% first mortgage notes due 2004 and 9-3/4% first mortgage notes due 2005. The company used the funds from the offering to purchase the tendered 8-7/8% first mortgage notes and 9-3/4% first mortgage notes, and to repay five short-term construction loans. The 8-7/8% first mortgage notes due 2012 will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Previous ArticleHilton Hotels, Pegasus Maintain Agency-Pay System
Next Article Starwood Renews Brand Assurance Program