Host Hotels & Resorts, Inc. announced that it amended and restated its existing $2.5 billion credit facility. The Agreement extends maturities from January 2025 to January 2028, including all extension options, and continues to provide a $1.5 billion revolving credit facility and two $500 million term loans. The amended and restated facilities reflect no increase in pricing and will bear interest pursuant to a credit ratings-based grid ranging from 0.725%-1.600% over the applicable adjusted term SOFR.

Other terms of the Agreement are similar to the Company's previous credit facility agreement. In addition, the Agreement reflects the Company's commitment to ESG initiatives by adding incentives linked to portfolio sustainability initiatives, including green building certifications and renewable electricity usage. Specific sustainability targets include: Increasing the number of hotels in the portfolio with green building certifications to 38% by 2027 Increasing the percentage of electricity used across the consolidated portfolio that is generated by renewable resources to 38% by 2027 At closing, no amounts were outstanding under the revolving credit facility other than existing letters of credit, and $1 billion was outstanding under the two term loans.

The Company's debt has a weighted average maturity of 5.2 years, an average interest rate of 4.4% and no significant maturities until April 2024. The credit facilities are led jointly by Wells Fargo Securities, LLC, BofA Securities, Inc. and JPMorgan Chase Bank, N.A. Bank of America, N.A. serves as the Administrative Agent. Wells Fargo Bank, N.A. and JPMorgan Chase Bank, N.A. serve as Co-Syndication Agents.

Credit Agricole Corporate and Investment Bank serves as Sustainability Structuring Agent.