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Press release from Business Wire

Hospitality Properties Trust Prices $300 Million of 4.5% Unsecured Senior Notes Due 2023

Thursday, May 30, 2013

Hospitality Properties Trust Prices $300 Million of 4.5% Unsecured Senior Notes Due 2023

17:25 EDT Thursday, May 30, 2013

NEWTON, Mass. (Business Wire) -- Hospitality Properties Trust (NYSE: HPT) today announced that it has priced an underwritten public offering of $300 million of 4.5% unsecured senior notes due June 15, 2023.

HPT expects to use the net proceeds from this 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. The settlement of this offering is expected to occur on June 6, 2013, subject to customary closing conditions.

The joint book-running managers for this offering were Citigroup, BofA Merrill Lynch, UBS Investment Bank and Wells Fargo Securities. The joint lead managers for this offering were BBVA Securities, Morgan Stanley, PNC Capital Markets LLC, RBC Capital Markets and Regions Securities LLC. The co-managers were BB&T Capital Markets, BNY Mellon Capital Markets, LLC, Capital One Southcoast, Comerica Securities, Mitsubishi UFJ Securities, Mizhuo Securities, RBS, Santander, SMBC Nikko, TD Securities and US Bancorp.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Copies of the prospectus supplement and the accompanying prospectus may be obtained by contacting the offices of: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038, email dg.prospectusrequests@baml.com; UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171, telephone: (877) 827-6444 ext. 561 3884; or Wells Fargo Securities, Attention: Capital Markets Client Support, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, email cmclientsupport@wellsfargo.com or toll free at (800) 326-5897.

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 THE SETTLEMENT OF THE SALE OF SENIOR NOTES IS EXPECTED TO OCCUR ON JUNE 6, 2013. THE SETTLEMENT OF THIS OFFERING IS SUBJECT TO VARIOUS CONDITIONS AND CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED OR THE SPECIFIED CONTINGENCIES DO NOT OCCUR, THIS OFFERING MAY NOT CLOSE.
  • THIS PRESS RELEASE STATES THAT HPT EXPECTS TO USE A PART OF THE NET PROCEEDS FROM THIS OFFERING TO REDEEM SOME OR ALL OF ITS OUTSTANDING 7% SERIES C CUMULATIVE REDEEMABLE PREFERRED SHARES. HOWEVER, IF THIS OFFERING DOES NOT CLOSE HPT MAY NOT REDEEM ANY OF ITS OUTSTANDING 7% SERIES C CUMULATIVE REDEEMABLE PREFERRED SHARES.

FOR THESE REASONS, AMONG OTHERS, INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the New York Stock Exchange.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Hospitality Properties Trust
Timothy A. Bonang, 617-796-8232
Vice President, Investor Relations
or
Carlynn Finn, 617-796-8232
Senior Manager, Investor Relations

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