Newton, MA (June 27, 2002): Hospitality Properties Trust (NYSE: HPT) today announced that it has priced an offering of $125 million of 6.85% senior notes due 2012. The settlement of this sale is expected to occur on July 8, 2002. HPT intends to use net proceeds to repay amounts outstanding on its revolving credit facility and for general business purposes.
The underwriter for this offering is Wachovia Securities.
A prospectus supplement concerning this offering will be filed with the Securities and Exchange Commission. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described above, which should be only made by the prospectus supplement and accompanying prospectus; nor shall there be any sale of these notes in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state. Copies of the prospectus supplement and the accompanying prospectus may be obtained from the offices of the underwriter at 901 East Byrd Street, Richmond, VA.
Hospitality Properties Trust is a real estate investment trust headquartered in Newton, MA. HPT currently has investments of approximately $2.7 billion in 251 hotels located in 37 states.