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Hospitality Properties Trust Proposes 8M Common Share Public Offering

Nov 7, 2013 | Reprints | Print

Newton-based Hospitality Properties Trust yesterday began a public offering of 8 million common shares.

The company expects to use the offering’s net proceeds to repay amounts outstanding under its unsecured revolving credit facility and for general business purposes. It is also considering granting the underwriters a 30-day option to purchase up to an additional 1.2 million common shares.

The joint book-running managers for the common share offering are Citigroup, Bank of America Merrill Lynch and Morgan Stanley. The co-lead managers are Jefferies, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities.

Commercial & Industrial