John Q. Hammons Hotels, L.P. Announces Completion of Its Tender Offer for First Mortgage Notes and the Closing of Its Offering of $510,000,000 of 8-7/8 Percent First Mortgage Notes Due 2012

SPRINGFIELD, Mo.--(BUSINESS WIRE)--May 21, 2002--John Q. Hammons Hotels, L.P. today announced the sale of $510,000,000 of its 8-7/8% First Mortgage Notes due 2012 to certain qualified institutional investors and overseas purchasers in a private placement.
The company also announced the completion of its tender offer to purchase its outstanding 8-7/8% First Mortgage Notes due 2004 and 9-3/4% First Mortgage Notes due 2005. The company used the funds from the offering to purchase the tendered 8-7/8% First Mortgage Notes and 9-3/4% First Mortgage Notes, and to repay five short-term construction loans.
The 8-7/8% First Mortgage Notes due 2012 will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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