NEWTON, Mass.--(BUSINESS WIRE)--
Hospitality Properties Trust (NYSE: HPT) today announced that it will
redeem 6 million of its 12.7 million outstanding 7% Series C Cumulative
Redeemable Preferred Shares (CUSIP No.: 44106M508 and NYSE: HPTPrC) at
the stated Liquidation Preference price of $25 per share plus accrued
and unpaid dividends to the date of redemption. This redemption is
expected to occur on or about September 10, 2012. Dividends will cease
to accrue on the Series C Preferred Shares as of the redemption date.
The Series C Preferred Shares called for redemption will be redeemed, as
to registered holders, on a pro rata basis, as nearly as practicable.
Holders who hold Series C Preferred Shares through the Depository Trust
Company (DTC) will be redeemed in accordance with DTC's procedures.
Questions relating to the notice of redemption and related materials
should be directed to Wells Fargo Shareowner Services, HPT's transfer
agent and the paying agent for the redemption of the Series C Preferred
Shares, at 1-800-468-9716. The address of the paying agent is Wells
Fargo Shareowner Services, Attn: Corporate Actions Department, P.O. Box
64858, St. Paul, MN 55164-0858. HPT expects to fund this partial
redemption with proceeds from its recent $500 million offering of 5.00%
unsecured senior notes due August 15, 2022. The settlement of that
offering is expected to occur on August 16, 2012.
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 AND THE IMPLICATIONS OF
THESE STATEMENTS MAY NOT OCCUR. FOR EXAMPLE,
-
THIS PRESS RELEASE STATES THAT HPT EXPECTS TO USE A PART OF THE
PROCEEDS FROM ITS $500 MILLION OFFERING OF 5.00% UNSECURED SENIOR
NOTES TO REDEEM 6 MILLION OF ITS 12.7 MILLION OUTSTANDING 7% SERIES C
CUMULATIVE PREFERRED SHARES AND THAT THE SETTLEMENT OF THAT OFFERING
IS EXPECTED TO OCCUR ON AUGUST 16, 2012. THE SETTLEMENT OF THAT
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 DO NOT
OCCUR, THAT OFFERING MAY NOT CLOSE AND HPT MAY NOT REDEEM ANY OF ITS
OUTSTANDING 7% SERIES C CUMULATIVE REDEEMABLE PREFERRED SHARES.
FOR THESE REASONS, AMONG OTHERS, 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.
Hospitality Properties Trust
Timothy A. Bonang, 617-796-8232
Vice
President, Investor Relations
or
Carlynn Finn, 617-796-8232
Senior
Manager, Investor Relations