Newton-based REIT Hospitality Properties Trust (HPT) says it will redeem all of its outstanding 6.75 percent senior notes due in 2013.

The redemption price will equal the principal amount of the notes, $287 million, plus accrued and unpaid interest. The company expects to go ahead with the redemption Sept. 10.

The redemption is being funded with proceeds from its $500 million offering of senior notes due in 2022. That offering is expected to be settled Aug. 16.

Also on Sept. 10, HPT expects to redeem 6 million of its 12.7 million outstanding 7 percent series C cumulative redeemable preferred shares.

HPT To Set To Redeem $287M In Senior Notes

by Banker & Tradesman time to read: <1 min
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