Hospitality Properties to redeem all of its 8.875% preferred shares

By Ashley Montgomery

Kansas City, Kan., Jan. 12 - Hospitality Properties Trust will redeem all of its outstanding 3.45 million 8.875% series B cumulative redeemable preferred shares, according to a news release.

The trust said it expects to complete the redemption on or near Feb. 13.

The price of the redemption will be $25 per preferred plus accrued dividends to the redemption date.

Funds for the redemption will come from cash on hand and the company's revolving credit facility, according to the release.

The redemption agent is Wells Fargo Bank, NA, (866 877-6331).

Hospitality Properties is a real estate investment trust based in Newton, Mass.

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