JQH sets pricing in tender for John Q. Hammons 8 7/8% notes

New York, Sept. 6 - JQH Finance, LLC said it has fixed pricing in its tender offer for all the $499.0 million principal amount of series B 8 7/8% first mortgage notes due 2012 issued by John Q. Hammons Hotels, LP and John Q. Hammons Hotels Finance Corp. III, affiliates of John Q. Hammons Hotels, Inc.

For each $1,000 principal amount, JQH will pay $1,111.74, including a consent payment of $30.00. The price assumes a settlement date of Sept. 27.

Pricing was fixed at 2 p.m. ET on Wednesday using a spread of 50 basis points over the bid-side yield of the 3 1/8% U.S. Treasury note due May 15, 2007.

The consent deadline is 5 p.m. ET on Sept. 9 while the offer ends at 10 a.m. ET on Sept. 26.

The consent solicitation is to amend the note indenture.

As announced on Aug. 26, JQH is carrying out the tender as part of its acquisition of John Q. Hammons.

Goldman, Sachs & Co. is dealer manager and solicitation agent (800 828-3182). Global Bondholder Services Corp. is information agent and depositary (866 873-6300).

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