Hospitality Properties to redeem $300 million 7.875% notes on Feb. 15

By Susanna Moon

Chicago, Jan. 15 - Hospitality Properties Trust announced the early redemption of its $300 million outstanding 7.875% senior notes due 2014.

The redemption price will be par plus accrued interest to but excluding the redemption date, expected to be on or about Feb. 15.

The 7.875% notes currently represent the trust's highest priced debt outstanding, according to a company press release, and Hospitality expects to fund the redemption by using cash on hand and borrowings under its recently refinanced revolving credit facility.

The real estate investment trust is based in Newton, Mass.

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