July 10, 2020
Service Properties Trust (Nasdaq: SVC) today announced that it will issue a press release containing its second quarter 2020 results before the Nasdaq opens on Friday, August 7, 2020. Later that morning, at 10:00 a.m. Eastern Time, President and Chief Executive Officer John Murray , Chief Financial Officer Brian Donley and Chief Investment Officer Todd Hargreaves will host a conference call to discuss these results. The conference call telephone number is (877) 329-3720. Participants calling from outside the United States and Canada should dial (412) 317-5434. No pass code is necessary to access the call from either number. Participants should dial in about 15 minutes prior to the scheduled start of the call. A replay of the conference call will be available through Friday, August 14, 2020. To hear the replay, dial (412) 317-0088. The replay pass code is 10145356. A live audio webcast of the conference call will also be available in a listen-only mode on the company’s website, which...
June 17, 2020
Service Properties Trust (Nasdaq: SVC) , or SVC, a Maryland real estate investment trust, or REIT, today announced that it has closed its underwritten public offering of $800 million aggregate principal amount of 7.50% senior unsecured notes due 2025 guaranteed by certain of SVC’s subsidiaries. The Company used the net proceeds from the offering to repay amounts outstanding under its revolving credit facility. “I am pleased to announce the successful completion of our notes offering during these challenging times,” said John Murray , President and Chief Executive Officer of SVC. “We were pleased with the investor support we received on this transaction, which allowed us to upsize the offering to repay almost all of the amounts outstanding under our $1 billion credit facility, including amounts drawn to tender a substantial amount of our notes coming due in February 2021. With approximately $1 billion in liquidity and no significant debt maturities until 2022, SVC is well positioned to...
June 16, 2020
Service Properties Trust (Nasdaq: SVC) , or SVC, a Maryland real estate investment trust, or REIT, announced today the pricing terms of its previously announced cash tender offer, or the Offer, to purchase up to $350,000,000, or the Tender Cap, of its outstanding $400,000,000 aggregate principal amount of 4.25% Senior Notes due 2021 (CUSIP No. 44106M AU6), or the Notes. The terms and conditions of the Offer are described in the Offer to Purchase, dated June 2, 2020, or the Offer to Purchase, as amended by the press release, dated June 3, 2020, and as further amended by the press release, dated June 16, 2020. The total consideration, or the Total Consideration, for the Notes is based on the yield to maturity of the applicable U.S. Treasury Security, or the Reference Yield, plus a fixed spread, as set forth in the table below. The Reference Yield (as determined pursuant to the Offer to Purchase) was determined at 10:00 a.m., New York City time, today, June 16, 2020, by the dealer...