Hospitality Properties to price $250 million 10-year notes Wednesday

By Aleesia Forni

Virginia Beach, March 5 - Hospitality Properties Trust is in Wednesday's market with a $250 million offering of senior notes due 2024, according to a market source.

Citigroup Global Markets Inc., RBC Capital Markets LLC, UBS Securities LLC and Wells Fargo Securities LLC are the joint bookrunners.

Proceeds will be used to repay amounts outstanding under the company's revolving credit facility and for general business purposes, according to a 424B5 filed with the Securities and Exchange Commission.

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

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