Hospitality Properties to repay revolver via new common share offering

By Tali David

Minneapolis, Nov. 6 - Hospitality Properties Trust plans to use the proceeds from an offering of common shares of beneficial interest to repay amounts outstanding under its unsecured revolving credit facility, according to a 424B5 filed with the Securities and Exchange Commission.

As of Nov. 5, there was $173 million outstanding under the facility and the interest rate was 1.47% per annum.

Proceeds will also be used for general business purposes.

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

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