Hospitality Properties Trust Announces Notification for Repurchase of 3.80% Convertible Senior Notes at Option of Holders
Hospitality Properties Trust (NYSE: HPT) announced today that it is notifying holders of its 3.80% Convertible Senior Notes due 2027 (CUSIP Numbers: 44106MAK8 and 44106MAJ1) that they have the right to surrender their Notes for repurchase by HPT for cash pursuant to their option (the “Put Option”) under the Indenture, dated as of February 25, 1998, as supplemented by Supplemental Indenture No. 10, dated as of March 7, 2007. The Put Option entitles each holder of the Notes to require HPT to repurchase all or any part of such holder's Notes on March 20, 2012 (the “Repurchase Date”) at a purchase price (the “Repurchase Price”) equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest thereon up to, but excluding, the Repurchase Date.
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