REIT Prices Senior Notes

Hospitality Properties Trust, Newton, Mass., has announced the pricing of $500 million of 3.80% convertible senior notes due in 2027.The real estate investment trust said the offering will include an option to the initial purchasers to acquire up to an additional $75 million in principal amount of the notes to cover any overallotments. HPT said it expects to use the net proceeds of the offering to repay a portion of the debt incurred to fund its recently completed acquisition of TravelCenters of America. Prior to March 15, 2026, the notes will be convertible, at the holder's option and upon the occurrence of certain events, into shares of HPT stock at $50.50 per share, which represents a 15.8% premium on the closing price of HPT's stock on March 1, the REIT reported. The hotel REIT can be found on the Internet at http://www.hptreit.com.