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.