Hospitality Properties Trust Announces Proposed Public Offering of 10,000,000 Common Shares
Hospitality Properties Trust (NYSE: HPT) today announced it has
commenced a public offering of 10,000,000 common shares. HPT expects to
use the proceeds of this offering to repay amounts outstanding under its
unsecured revolving credit facility and for general business purposes.
It is contemplated that the underwriters will also be granted a 30-day
option to purchase up to an additional 1,500,000 common shares.
The joint book running managers for the common share offering are Morgan
Stanley, BofA Merrill Lynch and Wells Fargo Securities. The joint lead
managers are Citigroup, Jefferies, RBC Capital Markets and UBS
Investment Bank.
This press release is neither an offer to sell nor a solicitation of an
offer to buy HPT common shares, 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 such state or jurisdiction. The preliminary
prospectus supplement relating to this offering and related prospectus
are expected to be filed with the Securities and Exchange Commission
(SEC) and copies may be obtained by contacting the offices of: Morgan
Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd
Floor, New York, NY 10014, telephone (866) 718-1649, email:
prospectus@morganstanley.com; BofA Merrill Lynch, Attn: Prospectus
Department, 222 Broadway, New York, NY 10038; email
dg.prospectusrequests@baml.com; or Wells Fargo Securities, Attention:
Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152,
by email at cmclientsupport@wellsfargo.com.
WARNING CONCERNING 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 BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS ARE NOT
GUARANTEED. FOR EXAMPLE, ALTHOUGH THIS PRESS RELEASE REFERS TO AN
OFFERING OF 10,000,000 COMMON SHARES, GREATER OR LESS THAN 10,000,000
COMMON SHARES MAY BE SOLD OR THIS OFFERING MAY BE WITHDRAWN. INVESTORS
SHOULD NOT PLACE UNDUE RELIANCE UPON ANY FORWARD LOOKING STATEMENT.
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.
