Hospitality Properties Trust Announces Early Redemption of its $300 Million of Outstanding 5.625% Senior Notes
August 25 2016 - 3:01PM
Business Wire
Hospitality Properties Trust (Nasdaq: HPT) today announced the
early redemption of its outstanding 5.625% Senior Notes due 2017 at
a redemption price equal to the principal amount of $300.0 million,
plus accrued and unpaid interest to, but excluding the date of
redemption. This redemption is expected to occur on or about
September 26, 2016. HPT currently expects to fund this redemption
by using cash on hand and borrowings under its revolving credit
facility.
Hospitality Properties Trust is a real estate investment trust,
or REIT, which owns a diverse portfolio of hotels and travel
centers located in 45 states, Puerto Rico and Canada. HPT’s
properties are operated under long term management or lease
agreements. HPT is managed by the operating subsidiary of The RMR
Group Inc. (Nasdaq: RMR), an alternative asset management company
that is headquartered in Newton, Massachusetts.
WARNING REGARDING
FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN
THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE
BASED UPON HPT’S PRESENT EXPECTATIONS, BUT THESE STATEMENTS ARE NOT
GUARANTEED. FOR EXAMPLE, THIS PRESS RELEASE STATES THAT HPT EXPECTS
TO REDEEM ALL OF ITS OUTSTANDING 5.625% SENIOR NOTES DUE 2017. IF
UNFORESEEN CIRCUMSTANCES OCCUR, THE EXPECTED REDEMPTION OF THE
5.625% SENIOR NOTES DUE 2017 MAY BE DELAYED OR NOT COMPLETED. FOR
THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE
UNDUE RELIANCE UPON ANY FORWARD LOOKING STATEMENTS IN THIS PRESS
RELEASE.
A Maryland Real Estate Investment Trust with
transferable shares of beneficial interest listed on the Nasdaq.No
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
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version on businesswire.com: http://www.businesswire.com/news/home/20160825005763/en/
Hospitality Properties TrustKatie Strohacker, 617-796-8232Senior
Director, Investor Relations
Hospitality Properties (NASDAQ:HPT)
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