First graph, second sentence of release should read: ... on March 13, 2017 (sted ... on March 12, 2017).
The corrected release reads:
HOSPITALITY PROPERTIES TRUST CLOSES $400 MILLION UNSECURED TERM LOAN AND ANNOUNCES REDEMPTION OF 6.85% SENIOR NOTES DUE IN 2012
Hospitality Properties Trust (NYSE: HPT) today announced the closing of a new five year $400 million unsecured term loan. The loan matures on March 13, 2017, and is prepayable, without penalty, at any time. Terms of the new loan include interest at LIBOR plus 145 basis points, subject to adjustments based on changes to HPT's credit ratings. HPT expects to use the net proceeds of the term loan to repay amounts outstanding under its $750 million revolving credit facility, repurchase its 3.80% Convertible Senior Notes due 2027 which are tendered by the holders thereof for repurchase by HPT on their March 20, 2012 repurchase date, redeem its 6.85% Senior Notes due 2012 as described below, and for general business purposes.Wells Fargo Securities, LLC, PNC Capital Markets, LLC and RBC Capital Markets, LLC served as Joint Lead Arrangers for the term loan, and banks participating in the new loan are as follows:
Name of Institution
|Wells Fargo Bank, National Association||Administrative Agent|
|PNC Bank, National Association||Syndication Agent|
|Royal Bank of Canada||Syndication Agent|
|Regions Bank||Documentation Agent|
|Sovereign Bank, N.A.||Participant|
|RBS Citizens, N.A.||Participant|
|The Bank of New York Mellon||Participant|
|Bank of America, N.A.||Participant|
|UBS Loan Finance LLC||Participant|
|E. Sun Commercial Bank, Ltd., Los Angeles Branch||Participant|
|Land Bank of Taiwan, Los Angeles Branch||Participant|
|Taiwan Cooperative Bank, Los Angeles Branch||Participant|
|Bank of Taiwan, Los Angeles Branch||Participant|
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