Yahoo Finance

(Bloomberg) -- Hyatt Hotels Corp. sold $1 billion of bonds Monday to help fund its pending $2.6 billion purchase of Playa Hotels & Resorts NV, an owner of all-inclusive resorts in the Caribbean.

Most Read from Bloomberg

• ICE Eyes Massive California Tent Facility Amid Space Constraints

• How Britain’s Most Bike-Friendly New Town Got Built

• The Dark Prophet of Car-Clogged Cities

• Washington, DC, Region Braces for ‘Devastating’ Cuts from Congress

• NYC Plans for Flood Protection Without Federal Funds

Hyatt priced $500 million each of three- and seven-year fixed-rate bonds. The three-year notes yield 1.05 percentage point more than Treasuries, with the premium 1.55 percentage point for the seven-year debt.

The deal was one of six US investment-grade transactions Monday, as borrowers hit the market ahead of this week’s Federal Reserve monetary policy meeting.

The offering by Hyatt includes a special mandatory redemption clause, which requires the company to redeem the notes at 101% of their principal amount plus accrued interest if the Playa acquisition is not completed by Oct. 9 or if the purchase agreement is terminated. The bond sale wasn’t contingent on the completion of the acquisition.

Issuer Profile

Debt distribution: H US Equity DDIS

Capital structure: H US Equity CAST

Related securities: H US Equity RELS

Ratings history: H US Equity CRPR

This story was produced with the assistance of Bloomberg Automation

--With assistance from Ethan M Steinberg.

(Updates with the deal’s pricing.)

Most Read from Bloomberg Businessweek

• The Real Reason Trump Is Pushing ‘Buy American’

• Nvidia Looks Past DeepSeek and Tariffs for AI’s Next Chapter

• Snap CEO Evan Spiegel Bets Meta Can’t Copy High-Tech Glasses

• How America Got Hooked on H Mart

• How Trump’s ‘No Tax on Tips’ Could Backfire for the Working Class

©2025 Bloomberg L.P.