Hospitality Properties to draw on revolver as part of note redemption

By Wendy Van Sickle

Columbus, Ohio, Aug. 25 – Hospitality Properties Trust plans to draw down on its revolving credit facility to partially fund the redemption of its $300 million of outstanding 5.625% senior notes due 2017, according to a press release.

The notes are expected to be redeemed on Sept. 26 at par plus accrued interest up to but excluding the redemption date.

The trust expects to also use cash on hand to fund the redemption.

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

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