Hospitality Properties buys back $70.7 million notes in second quarter

By Angela McDaniels

Tacoma, Wash., Aug. 6 - Hospitality Properties Trust repurchased $70.7 million of its notes during the second quarter, according to the trust's earnings release for the quarter.

The trust repurchased $13.5 million principal amount of its 3.8% convertible senior notes at a cost of $11.1 million and $57.2 million principal amount of various issues of its senior notes at a cost of $45.2 million, in both cases excluding accrued interest.

After the end of the quarter, Hospitality Properties repurchased another $175.4 million principal amount of the 3.8% convertibles for $159.5 million.

All of these purchases were made using borrowings under the trust's revolving credit facility.

Hospitality is a real estate investment trust based in Newton, Mass.

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