Service Properties Trust to sell fixed-rate senior notes due 2025

By Devika Patel

Knoxville, Tenn., June 2 – Service Properties Trust plans to sell fixed-rate senior notes due 2025, according to a 424B5 filed with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call.

BofA Securities Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to repay borrowings under the company’s revolving credit facility.

Service Properties Trust is a Newton, Mass.-based real estate investment trust that owns a portfolio of hotels and net lease service and necessity-based retail properties.

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