STAMFORD, Conn. - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that it has closed a new $1.75 billion Senior Credit Facility (the "New Facility") on November 30, 2012. The New Facility matures on February 28, 2018, or such later date as may be adjusted from time to time, and replaces the existing $1.5 billion Credit Agreement (the "Existing Facility") which would have matured on November 15, 2013. The New Facility enhances the Company's financial flexibility and is expected to be used for general corporate purposes. The $1.75 billion multi-currency revolving loan commitment was provided by a syndicate of 27 banks, including JPMorgan Chase Bank, N.A., Citigroup Global Markets Inc., Bank of America, N.A., HSBC Bank USA, National Association, and Wells Fargo Bank, National Association, as Lead Arrangers.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with 1,128 properties in nearly 100 countries and approximately 154,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, Aloft® and ElementSM. The Company boasts one of the industry's leading loyalty programs, Starwood Preferred Guest (SPG), allowing members to earn and redeem points for room stays, room upgrades and flights, with no blackout dates. Starwood also owns Starwood Vacation Ownership, Inc., a premier provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. For more information, please visit www.starwoodhotels.com.