Hospitality Properties Trust to repay unsecured revolver via new notes

By Tali Rackner

Norfolk, Va., Jan. 29 – Hospitality Properties Trust said it plans to repay amounts outstanding under its unsecured revolving credit facility with the proceeds from two senior note offerings, according to a 424B5 filing with the Securities and Exchange Commission.

Proceeds will also be used for general business purposes.

As of Jan. 28, there was $510 million outstanding under the revolver, which matures July 15, 2018.

Amounts outstanding were incurred, in part, for general business purposes, including to fund acquisitions.

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

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