Latham & Watkins Represents Hyatt Hotels in US$600 Million Bond Offering

Latham & Watkins represented Hyatt Hotels Corporation, the global hospitality company, in a public two-part offering of senior notes issued to refinance existing debt and for general corporate purposes. The offering consisted of a US$150 million reopening of Hyatt’s 5.250% five-year senior notes due 2029, of which US$450 million aggregate principal amount was originally issued in June 2024, together with US$450 million in new seven-year notes, which achieved a coupon of 5.50%. The notes were rated Baa3 by Moody’s and BBB- by S&P Global and Fitch.

Latham’s interdisciplinary team, including members of its market-leading Capital Markets Practice and its Hospitality, Gaming & Leisure Industry Group, advised Hyatt in the financings, and was led by partners Michael Pucker, Roderick Branch, and Cathy Birkeland, with counsel Manasi Bhattacharyya and associates Andrew Rutsky, Chelsea Carlson, and Julia Gabriel. Partners Diana Doyle and Rene De Vera, with associates Michael Zucker and Jay Khurana, advised on tax matters, and partner Larry Seymour, with counsel Aryeh Zuber, advised on benefits and compensation matters.