Sotherly Hotels to redeem 12% series A preferreds via notes offering

By Tali David

Minneapolis, Sept. 18 - Sotherly Hotels Inc. operating partnership Sotherly Hotels LP plans to use the proceeds from a senior notes offering to redeem all of the outstanding shares of its 12% series A cumulative redeemable preferred stock, according to a press release.

Proceeds will also be used to pay any accrued dividends and any make-whole amounts or premium, then any remaining proceeds will go toward general corporate purposes.

Sotherly Hotels, formerly MHI Hospitality Corp., is a lodging real estate investment trust based in Williamsburg, Va.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.