Service Properties Trust Announces Early Redemption of its $500 Million of Outstanding 5.000% Senior Notes Due August 2022
Service Properties Trust (Nasdaq: SVC) today announced the early redemption of its outstanding 5.000% Senior Notes due August 2022 at a redemption price equal to the principal amount of $500 million, plus accrued and unpaid interest to, but excluding the date of redemption. The redemption price is expected to be paid on or about June 30, 2022. SVC currently expects to fund this redemption by using cash on hand.
About Service Properties Trust
Service Properties Trust (Nasdaq: SVC) is a real estate investment trust, or REIT, with more than $12 billion invested in two asset categories: hotels and service-focused retal net lease properties. SVC owns 298 hotels with over 47,000 guest rooms throughout the United States and in Puerto Rico and Canada, the majority of which are extended stay and select service. SVC also owns nearly 800 retail service focused net lease properties totaling over 13.5 million square feet throughout United States. SVC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with more than $37 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. SVC is headquartered in Newton, MA. For more information, visit svcreit.com.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.