Hospitality Properties Trust Increases Commitments Under Revolving Credit Facility to $1 Billion
December 09 2015 - 04:01PM
Business Wire
Hospitality Properties Trust (NYSE: HPT) today announced that it
has partially exercised the accordion feature under its unsecured
credit agreement. HPT received an increase in commitments under the
credit agreement’s revolving credit facility to $1 billion from its
previous amount of $750 million. All other material terms and
conditions under the credit agreement remain unchanged.
Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner &
Smith Incorporated, PNC Capital Markets, LLC and RBC Capital
Markets served as Joint Lead Arrangers, and banks that have
increased their commitments under the revolving credit facility are
as follows:
Name of
Institution
Facility
Title
Wells Fargo Bank, National Association Administrative Agent Royal
Bank of Canada Syndication Agent PNC Bank, National Association
Syndication Agent Bank of America, N.A. Syndication Agent Mizuho
Bank, Ltd. Documentation Agent Citibank, N.A. Revolving Lender
Compass Bank Revolving Lender Morgan Stanley Bank, N.A. Revolving
Lender UBS AG, Stamford Branch Revolving Lender First Tennessee
Bank N.A. Revolving Lender
Hospitality Properties Trust is a real estate investment
trust, or REIT, which owns a diverse portfolio of hotels and travel
centers located in 45 states, Puerto
Rico and Canada. HPT's properties are operated under long
term management or lease agreements. HPT is headquartered
in Newton, MA.
WARNING CONCERNING
FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS STATEMENTS THAT CONSTITUTE FORWARD
LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. ALSO,
WHENEVER HPT USES WORDS SUCH AS "BELIEVE", "EXPECT", "ANTICIPATE",
"INTEND", "PLAN", "ESTIMATE" OR SIMILAR EXPRESSIONS, HPT IS MAKING
FORWARD LOOKING STATEMENTS. THESE FORWARD LOOKING STATEMENTS ARE
BASED UPON HPT’S PRESENT INTENT, BELIEFS OR EXPECTATIONS, BUT
FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT
OCCUR. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTAINED IN
OR IMPLIED BY THESE FORWARD LOOKING STATEMENTS AS A RESULT OF
VARIOUS FACTORS. FOR EXAMPLE:
- THE CONTINUED AVAILABILITY OF
BORROWINGS UNDER THE REVOLVING CREDIT FACILITY IS SUBJECT TO HPT
SATISFYING CERTAIN FINANCIAL COVENANTS AND OTHER CUSTOMARY
CONDITIONS.
THE INFORMATION CONTAINED IN HPT’S FILINGS WITH THE SECURITIES
AND EXCHANGE COMMISSION, OR SEC, INCLUDING UNDER THE CAPTION "RISK
FACTORS" IN OUR PERIODIC REPORTS, OR INCORPORATED THEREIN,
IDENTIFIES OTHER IMPORTANT FACTORS THAT COULD CAUSE DIFFERENCES
FROM OUR FORWARD LOOKING STATEMENTS. HPT’S FILINGS WITH THE SEC ARE
AVAILABLE ON THE SEC'S WEBSITE AT WWW.SEC.GOV. YOU SHOULD NOT PLACE
UNDUE RELIANCE UPON HPT’S FORWARD LOOKING STATEMENTS. EXCEPT AS
REQUIRED BY LAW, HPT DOES NOT INTEND TO UPDATE OR CHANGE ANY
FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE
EVENTS OR OTHERWISE.
A Maryland Real Estate Investment Trust with
transferable shares of beneficial interest listed on the New York
Stock Exchange.No shareholder, Trustee or officer is personally
liable for any act or obligation of the Trust.
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version on businesswire.com: http://www.businesswire.com/news/home/20151209006353/en/
Hospitality Properties TrustKatie Strohacker, 617-796-8232Senior
Director, Investor Relationswww.hptreit.com
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