Hyatt Hotels Corp. has signed a definitive agreement to acquire Playa Hotels&Resorts N.V. for approximately $2.6 billion, including approximately $900 million of Playa's debt, net of cash. The company has secured committed bridge financing for the acquisition in the amount of $2.7 billion. At closing, Hyatt expects to fund 100% of the acquisition with new debt financing anticipated to be a combination of a short term prepayable unsecured term loan and senior unsecured notes. In conjunction with the agreement, Hyatt also announced a new asset sale program, under which it intends to realize at least $2 billion of gross proceeds through 2027 that it will use to repay acquisition-related debt. Although the planned asset sale program will provide
