Simpson Thacher Represents Initial Purchasers in $500 Million Senior Secured Notes Offering by Xenia
05.28.21
This is only gets display when printing
Simpson Thacher represented J.P. Morgan Securities LLC and the other initial purchasers in connection with a Rule 144A/Regulation S offering by XHR LP, a wholly owned subsidiary of Xenia Hotels & Resorts, Inc. (NYSE: XHR) (“Xenia”), of $500 million aggregate principal amount of 4.875% Senior Secured Notes due 2029. Xenia intends to use the net proceeds of the offering to repay borrowings under certain of its credit agreements and for general corporate purposes.
Xenia is a self-advised and self-administered REIT that invests primarily in uniquely positioned luxury and upper upscale hotels and resorts, with a focus on the top 25 U.S. lodging markets as well as key leisure destinations in the United States. Xenia owns 35 hotels comprising 10,011 rooms across 15 states. Xenia's hotels are primarily in the luxury and upper upscale segments, and operated and/or licensed by industry leaders such as Marriott, Hyatt, Kimpton, Fairmont, Loews, Hilton and The Kessler Collection.
The Simpson Thacher team for the transaction included John C. Ericson, Eva Kang and Alexi Thomas (Capital Markets); Jonathan Pall (Collateral); Timothy Gallagher (Real Estate); Jonathan Cantor and Kelli Rivers (Tax); Genevieve Dorment (Intellectual Property); Jennifer Neilsson (Executive Compensation and Employee Benefits); and Jennie Getsin (Blue Sky).