Host Hotels & Resorts Inc. (NYSE:HST) announced that it has closed a new $1 billion revolving credit facility, which represents a $400 million increase over its existing facility, with a syndicate of banks. The existing credit facility was scheduled to mature in September of 2012. The Company also has an option to seek additional lender commitments to increase the aggregate principal amount of the new facility by up to $500 million through an accordion feature, allowing for total commitments of up to $1.5 billion.

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