By: Staff Writer
January 12, 20201
Playa Hotels & Resorts N.V. (NASDAQ: PLYA) (“Playa”) today announced the pricing of an underwritten public offering of 35,000,000 of its Ordinary Shares, consisting of 25,000,000 Ordinary Shares offered by Playa and 10,000,000 Ordinary Shares offered by a selling shareholder, at a public offering price of $5.00 per share. The offering is expected to result in gross proceeds to Playa of approximately $125.0 million (assuming no exercise of the underwriters’ option to purchase 3,750,000 Ordinary Shares from Playa). The offering is expected to close on January 11, 2021, subject to customary closing conditions.
Playa intends to use the net proceeds from the offering to repay the amount outstanding under its revolving credit facility and for general corporate purposes. Playa will not receive any proceeds from the sale of Ordinary Shares by the selling shareholder, a fund affiliated with Sagicor Group Jamaica Limited.
Deutsche Bank Securities, BofA Securities, Citigroup and Nomura are acting as joint book-running managers for the offering.
The offering of these securities is being made pursuant to effective shelf registration statements that Playa previously filed with the Securities and Exchange Commission. This offering will be made only by means of a prospectus supplement and the accompanying prospectuses. A copy of the preliminary prospectus supplement and accompanying prospectuses relating to the offering and the final prospectus supplement, when available, may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov or by contacting: Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, Telephone: (800) 503-4611, Email: prospectus.cpdg@db.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Playa Hotels & Resorts N.V.
Playa Hotels & Resorts N.V. is a leading owner, operator and developer of all-inclusive resorts in prime beachfront locations in popular vacation destinations in Mexico and the Caribbean. Playa owns and/or manages a total portfolio consisting of 21 resorts (8,172 rooms) located in Mexico, Jamaica and the Dominican Republic. In Mexico, Playa owns and manages Hyatt Zilara Cancun, Hyatt Ziva Cancun, Panama Jack Resorts Cancun, Panama Jack Resorts Playa del Carmen, Hilton Playa del Carmen, Hyatt Ziva Puerto Vallarta and Hyatt Ziva Los Cabos. In Jamaica, Playa owns and manages Hyatt Zilara Rose Hall, Hyatt Ziva Rose Hall, Hilton Rose Hall Resort & Spa, Jewel Grande Montego Bay Resort & Spa and Jewel Paradise Cove Beach Resort & Spa. In the Dominican Republic, Playa owns and manages the Hilton La Romana, Hyatt Ziva Cap Cana and Hyatt Zilara Cap Cana. Playa also owns four resorts in Mexico and the Dominican Republic that are managed by a third party and Playa manages the Sanctuary Cap Cana, in the Dominican Republic.