Service Properties Trust will early redeem two senior notes due 2024

Chicago, Nov. 9 – Service Properties Trust (SVC) is calling for the early redemption of two senior notes due in 2024, according to a press release.

The company will redeem the $350 million outstanding 4.65% senior notes due March 2024 and the $825 million of 4.35% senior notes due October 2024.

Both notes are being redeemed at par plus interest to, but excluding, the Dec. 9 redemption date.

Funding for the redemption is coming from cash on hand and a Wednesday offering of $1 billion of 8 5/8% eight-year secured notes.

SVC, based in Newton, Mass., is a real estate investment trust focused on hotels and service-focused retail net lease properties.

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