NEWTON, Mass., Aug 07, 2009 (BUSINESS WIRE) -- Hospitality Properties Trust (NYSE: HPT) today announced that it has
priced an underwritten public offering of $300 million of 7.875%
unsecured Senior Notes due 2014.
The settlement of this sale is expected to occur on August 12, 2009. HPT
intends to use the net proceeds of this offering to reduce amounts
outstanding under its revolving credit facility.
The joint book-running managers for this offering were Banc of America
Securities LLC, UBS Securities LLC and Wells Fargo Securities, LLC. The
joint lead managers for this offering were Citigroup Global Markets
Inc., Morgan Keegan & Company, Inc., Morgan Stanley & Co. Incorporated
and RBC Capital Markets Corporation. The co-managing underwriters for
this offering were: BMO Capital Markets Corp., BNY Mellon Capital
Markets, LLC, Calyon Securities (USA) Inc., Comerica Securities, Inc.,
Deutsche Bank Securities Inc., Daiwa Securities, Jefferies & Company,
Inc., PNC Capital Markets LLC, RBS Securities Inc., SunTrust Robinson
Humphrey, Inc. and U.S. Bancorp Investments, Inc.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which the offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of that state or jurisdiction. Copies of the
prospectus supplement and the accompanying prospectus may be obtained
from the offices of Banc of America Securities LLC, 100 W. 33rd Street,
3rd Floor, New York, NY 10001, Attention: Prospectus Department, (800)
294-1322, from the office of UBS Securities LLC, Attn: Prospectus
Department, 299 Park Avenue, New York, New York 10171, (888) 827-7275,
or from the offices of Wells Fargo Securities, LLC, Attention: Equity
Syndicate Department, 375 Park Avenue, New York, New York, 10152, at
(800) 326-5897 or email a request to equity.syndicate@wachovia.com.
Hospitality Properties Trust is a real estate investment trust, or REIT,
which owns 289 hotels and 185 travel centers located throughout the
United States, Puerto Rico and Canada. HPT is headquartered in Newton,
MA.
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 THE
FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON
HPT'S PRESENT EXPECTATIONS, BUT THESE STATEMENTS AND THE IMPLICATIONS OF
THESE STATEMENTS MAY NOT OCCUR. FOR EXAMPLE, THIS PRESS RELEASE STATES
THAT THE SETTLEMENT OF THE SALE OF SENIOR NOTES IS EXPECTED TO OCCUR ON
AUGUST 12, 2009. IN FACT, THE SETTLEMENT OF THIS OFFERING IS SUBJECT TO
VARIOUS CONDITIONS AND CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING
AGREEMENTS IN THE UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED
OR THE SPECIFIED CONTINGENCIES OCCUR, THIS OFFERING MAY NOT CLOSE.
INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING
STATEMENTS.
A Maryland Real Estate Investment Trust with transferable shares of
beneficial interest listed on the New York Stock Exchange.
No shareholder, Trustee or officer is personally liable for any act
or obligation of the Trust.
SOURCE: Hospitality Properties Trust
Hospitality Properties Trust
Timothy A. Bonang
Director of Investor Relations
or
Carlynn Finn
Manager of Investor Relations
(617) 796-8232
www.hptreit.com
Copyright Business Wire 2009