- THIS PRESS RELEASE STATES THAT HPT EXPECTS TO USE A PART OF THE PROCEEDS FROM ITS $500 MILLION OFFERING OF 5.00% UNSECURED SENIOR NOTES TO REDEEM 6 MILLION OF ITS 12.7 MILLION OUTSTANDING 7% SERIES C CUMULATIVE PREFERRED SHARES AND THAT THE SETTLEMENT OF THAT OFFERING IS EXPECTED TO OCCUR ON AUGUST 16, 2012. THE SETTLEMENT OF THAT 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, THAT OFFERING MAY NOT CLOSE AND HPT MAY NOT REDEEM ANY OF ITS OUTSTANDING 7% SERIES C CUMULATIVE REDEEMABLE PREFERRED SHARES.
Hospitality Properties Trust Announces Partial Redemption Of 6 Million Shares Of 7% Series C Cumulative Redeemable Preferred Shares
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