Hospitality Properties Trust Announces Redemption of 11.6 Million Outstanding 7.125% Series D Cumulative Redeemable Preferred...
January 12 2017 - 8:00AM
Business Wire
Hospitality Properties Trust (Nasdaq: HPT) today announced that
it will redeem all of its 11.6 million outstanding 7.125% Series D
Cumulative Redeemable Preferred Shares (CUSIP No.: 44106M607 and
Nasdaq: HPTRP) (“Series D Preferred Shares”) 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 10, 2017. Dividends will
cease to accrue on the Series D Preferred Shares as of the
redemption date. Holders who hold Series D Preferred Shares through
the Depository Trust Company (DTC) will be redeemed in accordance
with DTC’s procedures. Questions relating to the notice of
redemption and related materials should be directed to Wells Fargo
Shareowner Services, HPT’s transfer agent and the paying agent for
the redemption of the Series D Preferred Shares, at 1-800-468-9716.
The address of the paying agent is Wells Fargo Shareowner Services,
Attn: Corporate Actions Department, P.O. Box 64858, St. Paul, MN
55164-0858.
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 AND THE
IMPLICATIONS OF THESE STATEMENTS MAY NOT OCCUR. FOR EXAMPLE:
- THIS PRESS RELEASE STATES THAT HPT HAS
ELECTED TO REDEEM ALL OF ITS 11.6 MILLION OUTSTANDING 7.125% SERIES
D PREFERRED SHARES AND THAT THIS REDEMPTION IS EXPECTED TO OCCUR ON
FEBRUARY 10, 2017. HOWEVER, THE EXPECTED REDEMPTION OF THE 11.6
MILLION OUTSTANDING 7.125% SERIES D PREFERRED SHARES MAY NOT BE
COMPLETED OR IT COULD BE DELAYED DUE TO THE OCCURRENCE OF UNFORSEEN
OR OTHER CIRCUMSTANCES.
YOU SHOULD NOT PLACE UNDUE RELIANCE UPON THE COMPANY’S FORWARD
LOOKING STATEMENTS.
EXCEPT AS REQUIRED BY LAW, THE COMPANY DOES NOT INTEND TO UPDATE
OR CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW
INFORMATION, FUTURE EVENTS OR OTHERWISE.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170112005335/en/
Hospitality Properties TrustKatie Strohacker, 617-796-8232Senior
Director, Investor Relations
Hospitality Properties (NASDAQ:HPT)
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