Hospitality Properties to repay revolving loan via new notes

By Tali Rackner

Norfolk, Va., Sept. 9 – Hospitality Properties Trust plans to use the proceeds from a senior notes offering to repay amounts outstanding under its revolving credit facility, according to a 424B5 filing with the Securities and Exchange Commission.

Proceeds will also be used for general corporate purposes, which may include funding hotel renovations. Pending such application, the company may invest the net proceeds in short-term investments, some or all of which may not be investment-grade rated.

The real estate investment trust is based in Newton, Mass.

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