NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced that it has priced an underwritten public offering of $800 million aggregate principal amount of 7.50% unsecured senior notes due 2025 guaranteed by certain of SVC’s subsidiaries. The settlement of this offering is expected to occur on June 17, 2020, subject to the satisfaction of customary closing conditions. SVC expects to use the net proceeds from this offering to repay amounts outstanding under its revolving credit facility.

The joint book-running managers for this offering were BofA Securities, Inc., Wells Fargo Securities, LLC, BMO Capital Markets Corp., Citigroup Global Markets Inc., PNC Capital Markets LLC and RBC Capital Markets, LLC. The joint lead managers for this offering were Mizuho Securities USA LLC, Regions Securities LLC, SMBC Nikko Securities America, Inc., SunTrust Robinson Humphrey, Inc. and U.S. Bancorp Investments, Inc. The co-managers for this offering were Barclays Capital Inc., FHN Financial Securities Corp., Morgan Stanley & Co. LLC and UBS Securities LLC.

Service Properties Trust is a real estate investment trust, or REIT, which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada with 148 distinct brands across 23 industries. SVC’s properties are operated under long term management or lease agreements. SVC is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

You should not place undue reliance upon forward-looking statements.

Except as required by law, SVC 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 Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.