August 10, 2009 (FinancialWire) — Hospitality Properties Trust (NYSE: HPT) has priced a public offering of $300 million of 7.875% unsecured senior notes due 2014. Banc of America Securities (NYSE: BAC), UBS Securities (NYSE: UBS) and Wells Fargo Securities (NYSE: WFC) acted as the joint bookrunning managers.

The settlement of the sale is scheduled to occur on August 12. HPT plans to use the net proceeds to reduce amounts outstanding under its revolving credit facility.

Newton, Massachusetts-based Hospitality Properties Trust is a real estate investment trust that owns 289 hotels and 185 travel centers located throughout the United States, Puerto Rico and Canada.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.