Hospitality Properties Trust Announces Redemption of 3.5 Million Outstanding 8.875% Series B Cumulative Redeemable Preferred Shares
NEWTON, Mass.--(BUSINESS WIRE)--
Hospitality Properties Trust (NYSE: HPT) today announced that it will
redeem its 3,450,000 outstanding of 8.875% Series B Cumulative
Redeemable Preferred Shares (CUSIP No.: 44106M409 and NYSE: HPT PrB) at
the stated Liquidation Preference price of $25 per share plus accrued
and unpaid dividends to the date of redemption. This redemption is
expected to occur on or about February 13, 2012.
Questions regarding the redemption process should be addressed to HPT's
redemption agent, Wells Fargo Bank, N.A., at 1-866-877-6331. HPT expects
to fund this redemption with cash on hand and borrowings under its
revolving credit facility.
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 EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED. FOR
THIS PRESS RELEASE STATES THAT HPT EXPECTS TO REDEEM ALL OF ITS
OUTSTANDING 8.875% SERIES B CUMULATIVE REDEEMABLE PREFERRED SHARES. IF
UNFORESEEN CIRCUMSTANCES OCCUR, THE EXPECTED REDEMPTION OF SERIES B
SHARES MAY NOT BE COMPLETED.
FOR THESE REASONS, AMONG OTHERS, INVESTORS SHOULD NOT PLACE UNDUE
RELIANCE UPON ANY FORWARD LOOKING STATEMENT.
A Maryland Real Estate Investment Trust with transferable shares of
beneficial interest listed on the New York Stock Exchange.
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
Hospitality Properties Trust
Timothy A. Bonang, 617-796-8232
President, Investor Relations
Carlynn Finn, 617-796-8232
Manager, Investor Relations.
Source: Hospitality Properties Trust
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