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Share Name Share Symbol Market Type
Marriott International Inc NASDAQ:MAR NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.18 1.36% 87.80 87.90 88.75 90.23 86.26 89.60 3,877,406 01:00:00

Marriott International Announces Redemption of its 3.375% Series M Notes Due 2020

30/06/2020 9:15pm

PR Newswire (US)


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BETHESDA, Md., June 30, 2020 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) today announced that on July 30, 2020 (the "Redemption Date") it will redeem all $350,000,000 aggregate principal amount of its outstanding 3.375% Series M Notes Due October 15, 2020 (CUSIP No. 571903 AL7) (the "Notes").

Marriott International, Inc. logo (PRNewsfoto/Marriott International, Inc.)

The Notes will be redeemed on the Redemption Date at a redemption price equal to the sum of 100% of the aggregate principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the Redemption Date. On and after the Redemption Date, interest will cease to accrue on the Notes and the Notes will cease to be outstanding.

Cautionary Language Concerning Forward-Looking Statements

All statements in this press release are made as of June 30, 2020.  Except as required by applicable law, Marriott undertakes no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise.  This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements related to the expected timing and completion of the redemption and similar statements concerning anticipated future events and expectations that are not historical facts.  Marriott cautions you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that Marriott may not be able to accurately predict or assess, including the risk factors that Marriott identifies in its Securities and Exchange Commission filings, including Marriott's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2020.  Any of these factors could cause actual results to differ materially from the expectations Marriott expresses or implies in this press release.

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,400 properties under 30 leading brands spanning 134 countries and territories.  Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world.  The company offers Marriott Bonvoy™, its highly-awarded travel program.  For more information, please visit Marriott's website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Marriott may post updates about COVID-19 and other matters on its investor relations website at www.marriott.com/investor or Marriott's news center website at www.marriottnewscenter.com.  Marriott encourages investors, the media, and others interested in the company to review and subscribe to the information Marriott posts on these websites, which may be material.  The contents of these websites are not incorporated by reference into this press release or any report or document Marriott files with the SEC, and any references to the websites are intended to be inactive textual references only.

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SOURCE Marriott International, Inc.

Copyright 2020 PR Newswire

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