NEWTON, Mass.--(BUSINESS WIRE)--
Hospitality Properties Trust (NYSE: HPT) today announced that it has
priced underwritten public offerings of $400 million of 4.25% unsecured
senior notes due February 15, 2021 and $350 million of 5.25% unsecured
senior notes due February 15, 2026. The settlement of these offerings is
expected to occur on February 3, 2016, subject to customary closing
conditions.
HPT expects to use the net proceeds from these offerings to repay
amounts outstanding under its unsecured revolving credit facility and
for general business purposes.
The joint book-running managers for these offerings were Merrill Lynch,
Pierce, Fenner & Smith Incorporated, RBC Capital Markets, LLC, UBS
Securities LLC, BBVA Securities Inc., Mizuho Securities USA Inc., PNC
Capital Markets LLC and Regions Securities LLC. The joint lead managers
for these offerings were Citigroup Global Markets Inc., Morgan Stanley &
Co. LLC and Wells Fargo Securities, LLC. The co-managers for these
offerings were BB&T Capital Markets, a division of BB&T Securities, LLC,
SMBC Nikko Securities America, Inc., Fifth Third Securities, Inc., FTN
Financial Securities Corp., Oppenheimer & Co. Inc. and U.S. Bancorp
Investments, Inc.
This press release shall not constitute an offer to sell or a
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 relating to these offerings and the related
prospectus may be obtained by contacting the offices of: Merrill Lynch,
Pierce, Fenner & Smith Incorporated, Attn: Prospectus Department at 222
Broadway, New York, NY 10038, or by email at dg.prospectus_requests@baml.com;
RBC Capital Markets, LLC, Three World Financial Center, 200 Vesey
Street, New York, NY 10281, Attn: Debt Capital Markets or by calling
(866) 375-6829 or by emailing usdebtcapitalmarkets@rbccm.com;
or UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the
Americas, New York, NY 10019, telephone: (888) 827-7275.
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 BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS ARE NOT
GUARANTEED. FOR EXAMPLE:
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THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE SALE OF SENIOR
NOTES IS EXPECTED TO OCCUR ON FEBRUARY 3, 2016. THE SETTLEMENT OF
THESE OFFERINGS 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, THESE OFFERINGS MAY NOT CLOSE.
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HPT'S CURRENT INTENT TO REPAY AMOUNTS OUTSTANDING UNDER ITS UNSECURED
REVOLVING CREDIT FACILITY WITH THE NET PROCEEDS OF THESE OFFERINGS IS
DEPENDENT ON THE CLOSING OF THESE OFFERINGS AND MAY NOT OCCUR.
FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO 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.
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Source: Hospitality Properties Trust