The net proceeds from the issue of the notes, after deducting issue expenses, will be used for the purpose of refinancing existing borrowings and financing working capital requirements of HPL and its subsidiaries.
Hotel Properties Limited (HPL) has issued $220 million in aggregate principal amount of 4.40% notes due 2030 June 10, 2025, under its $1 billion multi-currency debt issuance programme.
The notes were offered in Singapore to institutional investors and accredited inventors. It bears a fixed interest rate of 4.40% per annum payable semi-annually in arrear on June 10 and December 10 in each year.
