Hospitality Properties Trust (NYSE: HPT) today announced the closing of a new revolving credit facility, on the following terms:
Amount: $350 million; with an option to increase to $700 million in certain circumstances.
Maturity: June 30, 2005; with a borrower`s option to extend for one year to June 30, 2006.
Interest on drawings: LIBOR plus 135 basis points per annum
Fees: Not disclosed.
This new revolving credit facility is being provided by the following banks: