Hospitality Properties Trust Prices $400 Million of 4.375% Unsecured Senior Notes Due 2030

January 30, 2018

NEWTON, Mass.--(BUSINESS WIRE)-- Hospitality Properties Trust (Nasdaq: HPT) today announced that it has priced an underwritten public offering of $400 million of 4.375% unsecured senior notes due February 15, 2030. The settlement of this offering is expected to occur on February 2, 2018, subject to customary closing conditions.

HPT expects to use the net proceeds from this offering to repay amounts outstanding under its unsecured revolving credit facility and for general business purposes.

The joint book-running managers for this offering were Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated., PNC Capital Markets LLC, Regions Securities LLC and U.S. Bancorp Investments, Inc. The joint lead managers for this offering were BBVA Securities Inc., Mizuho Securities USA LLC, Morgan Stanley, RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc., UBS Securities LLC and Wells Fargo Securities, LLC. The co-managers for this offering were BB&T Capital Markets, a division of BB&T Securities, LLC, BMO Capital Markets Corp., Fifth Third Securities, Inc., FTN Financial Securities Corp. and Samuel A. Ramirez & Company, Inc.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Copies of the prospectus supplement relating to this offering and the related prospectus may be obtained by contacting the offices of: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling (800) 831-9146; Merrill Lynch, Pierce, Fenner & Smith Incorporated., NC1-004-03-43, 200 North College Street 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, Email: dg.prospectus_requests@baml.com; PNC Capital Markets LLC, 300 Fifth Avenue, Three PNC Plaza 10th Floor, Pittsburgh, PA 15222 or by calling (855) 881-0697; Regions Securities LLC, by calling (404) 279-7400; and U.S. Bancorp, 214 N. Tryon St. 26th Floor, Charlotte, NC 28202, Attention: Debt Capital Markets or by calling (877) 558-2607.

Hospitality Properties Trust is a real estate investment trust, or REIT, which owns a diverse portfolio of hotels and travel centers located in 45 states, Puerto Rico and Canada. HPT's properties are operated under long term management or lease agreements. HPT is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON HPT'S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED AND THE IMPLICATIONS OF THESE STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS, SOME OF WHICH ARE BEYOND HPT’S CONTROL. FOR EXAMPLE:

  • THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE SALE OF SENIOR NOTES IS EXPECTED TO OCCUR ON FEBRUARY 2, 2018. THE SETTLEMENT OF THIS OFFERING IS SUBJECT TO VARIOUS CONDITIONS AND CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED OR THE SPECIFIED CONTINGENCIES DO NOT OCCUR, THIS OFFERING MAY NOT CLOSE.
  • HPT'S CURRENT INTENT TO USE THE NET PROCEEDS FROM THIS OFFERING TO REPAY AMOUNTS OUTSTANDING UNDER ITS UNSECURED REVOLVING CREDIT FACILITY AND FOR GENERAL BUSINESS PURPOSES IS DEPENDENT ON THE CLOSING OF THIS OFFERING AND MAY NOT OCCUR.

FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Source: Hospitality Properties Trust

Hospitality Properties Trust

Katie Strohacker, 617-796-8232

Senior Director, Investor Relations

Cautionary Language

The information appearing on HPT’s website includes statements which constitute forward looking statements. These forward looking statements are based upon HPT’s present intents, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur. HPT’s actual results may differ materially from those contained in HPT’s forward looking statements. The information contained in HPT’s filings with the Securities and Exchange Commission, including under “Risk Factors" and “Warnings Concerning Forward Looking Statements” in HPT’s periodic reports and other filings, identifies important factors that could cause HPT’s actual results to differ materially from those stated in HPT’s forward looking statements. HPT’s filings with the SEC are available on the SEC’s website at www.sec.gov and are also accessible on HPT’s website at the following link: SEC Filings. You should not place undue reliance upon forward looking statements.

The documents provided in this archived section are provided for historical purposes only. The information contained in each document is accurate only as of the date each document was originally issued or such earlier date stated in those documents. Except as required by law, Hospitality Properties Trust does not undertake any obligation to update any information contained in these documents. For current information about the company, please refer to our most recent public SEC Filings.

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