Hospitality Properties prices senior notes
March 2, 2007 09:41 AM
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Hospitality Properties Trust, a real estate investment trust, said today that it priced $500 million convertible senior notes due 2027.
Initial buyers were given an option to purchase up to an additional $75 million of the 3.8 percent notes to cover any overallotments.
The sale is expected to close on Wednesday.
Hospitality Properties said it plans to use proceeds from the sale to repay part of the debt incurred to fund its $1.9 billion TravelCenters of America Inc. acquisition. (AP)
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