NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has priced an underwritten public offering of $450 million aggregate principal amount of 5.50% unsecured senior notes due 2027 guaranteed by certain of SVC’s subsidiaries. The settlement of this offering is expected to occur on November 20, 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.

Service Properties Trust is a real estate investment trust 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 149 distinct brands across 23 industries. SVC’s properties are primarily 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.