NEWTON, Mass.--(BUSINESS WIRE)--
Hospitality Properties Trust (Nasdaq: HPT) today announced that it has
priced an underwritten public offering of $400 million of 4.375%
unsecured senior notes due February 15, 2030. The settlement of this
offering is expected to occur on February 2, 2018, subject to customary
closing conditions.
HPT expects to use the net proceeds from this offering to repay amounts
outstanding under its unsecured revolving credit facility and for
general business purposes.
The joint book-running managers for this offering were Citigroup Global
Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated., PNC
Capital Markets LLC, Regions Securities LLC and U.S. Bancorp
Investments, Inc. The joint lead managers for this offering were BBVA
Securities Inc., Mizuho Securities USA LLC, Morgan Stanley, RBC Capital
Markets, LLC, SMBC Nikko Securities America, Inc., UBS Securities LLC
and Wells Fargo Securities, LLC. The co-managers for this offering were
BB&T Capital Markets, a division of BB&T Securities, LLC, BMO Capital
Markets Corp., Fifth Third Securities, Inc., FTN Financial Securities
Corp. and Samuel A. Ramirez & Company, 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 this offering and the related
prospectus may be obtained by contacting the offices of: Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717 or by calling (800) 831-9146; Merrill Lynch, Pierce, Fenner &
Smith Incorporated., NC1-004-03-43, 200 North College Street 3rd
Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department,
Email: dg.prospectus_requests@baml.com;
PNC Capital Markets LLC, 300 Fifth Avenue, Three PNC Plaza 10th
Floor, Pittsburgh, PA 15222 or by calling (855) 881-0697; Regions
Securities LLC, by calling (404) 279-7400; and U.S. Bancorp, 214 N.
Tryon St. 26th Floor, Charlotte, NC 28202, Attention: Debt
Capital Markets or by calling (877) 558-2607.
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 AND THE IMPLICATIONS OF THESE STATEMENTS ARE NOT GUARANTEED
TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS, SOME OF WHICH ARE BEYOND
HPT’S CONTROL. 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 2, 2018. THE SETTLEMENT OF THIS
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, THIS OFFERING MAY NOT CLOSE.
-
HPT'S CURRENT INTENT TO USE THE NET PROCEEDS FROM THIS OFFERING TO
REPAY AMOUNTS OUTSTANDING UNDER ITS UNSECURED REVOLVING CREDIT
FACILITY AND FOR GENERAL BUSINESS PURPOSES IS DEPENDENT ON THE CLOSING
OF THIS OFFERING 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 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