STARWOOD HOTEL & RESORTS WORLDWIDE INC 8-K 2008
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Starwood Hotels & Resorts Worldwide, Inc.
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Item 8.01 Other Events.
On May 16, 2008, Starwood Hotels & Resorts Worldwide, Inc. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated on behalf of themselves and the representatives of the underwriters named therein (collectively, the "Underwriters"). Pursuant to the Underwriting Agreement, the Company agreed to issue and sell to the Underwriters, and the Underwriters have agreed to purchase for resale to the public, $200,000,000 principal amount of the Company’s 6.25% Senior Notes due 2013 (the "2013 Notes") and $400,000,000 principal amount of the Company’s 6.75% Senior Notes due 2018 (the "2018 Notes" and, together with the 2013 Notes, the "Notes"). The 2013 Notes will be sold to the Underwriters at an issue price of 100.147% of the principal amount thereof, and the Underwriters will offer the 2013 Notes to the public at a price of 100.747% of the principal amount thereof. The 2018 Notes will be sold to the Underwriters at an issue price of 99.350% of the principal amount thereof, and the Underwriters will offer the 2018 Notes to the public at a price of 100.000% of the principal amount thereof. The offering of the Notes is expected to be completed on May 23, 2008.
Item 9.01 Financial Statements and Exhibits.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.