NEWTON, Mass.--(BUSINESS WIRE)--
Hospitality Properties Trust (Nasdaq: HPT) today announced that it will
redeem all of its 11.6 million outstanding 7.125% Series D Cumulative
Redeemable Preferred Shares (CUSIP No.: 44106M607 and Nasdaq: HPTRP)
(“Series D Preferred Shares”) 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 February
10, 2017. Dividends will cease to accrue on the Series D Preferred
Shares as of the redemption date. Holders who hold Series D 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 D 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 redemption with cash on hand and borrowings
under its revolving credit facility.
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 HAS ELECTED TO REDEEM ALL OF ITS
11.6 MILLION OUTSTANDING 7.125% SERIES D PREFERRED SHARES AND THAT
THIS REDEMPTION IS EXPECTED TO OCCUR ON FEBRUARY 10, 2017. HOWEVER,
THE EXPECTED REDEMPTION OF THE 11.6 MILLION OUTSTANDING 7.125% SERIES
D PREFERRED SHARES MAY NOT BE COMPLETED OR IT COULD BE DELAYED DUE TO
THE OCCURRENCE OF UNFORSEEN OR OTHER CIRCUMSTANCES.
YOU SHOULD NOT PLACE UNDUE RELIANCE UPON THE COMPANY’S FORWARD LOOKING
STATEMENTS.
EXCEPT AS REQUIRED BY LAW, THE COMPANY DOES NOT INTEND TO UPDATE OR
CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION,
FUTURE EVENTS OR OTHERWISE.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170112005335/en/
Source: Hospitality Properties Trust