NEWTON, Mass.--(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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Source: Hospitality Properties Trust