Newton REIT Hospitality Properties Trust has commenced a cash tender offer for any and all of the approximately $265 million outstanding principal amount of its 3.8 percent convertible senior notes due 2027.

HPT is offering to purchase the notes at par, or $1,000 per $1,000 principal amount, plus any accrued and unpaid interest up to, but not including, the date on which payment is made for the notes that are purchased pursuant to the tender offer.

The offer will expire at midnight on April 9, unless extended. Any notes purchased pursuant to the tender offer will be cancelled, and those notes will cease to be outstanding. HPT intends to fund the purchases with cash on hand and drawings on its revolving credit facility.

The dealer managers for the Offer are Bank of America, Merrill Lynch, BNY Mellon Capital Markets LLC and Citi. The information agent and depositary for the offer is D.F. King & Co. Inc.