Hospitality Properties Trust (HPT) said Thursday that it has commenced an underwritten public offering of unsecured senior notes.
The company said it expects to use the net proceeds from the offering to repay amounts outstanding under its revolving credit facility, to redeem some or all of its outstanding 7% Series C Cumulative Redeemable Preferred Shares and for general business purposes, which may include funding hotel renovation or rebranding costs and potential future acquisitions.
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