Pebblebrook Hotel Trust Announces Proposed Offering of Senior Notes
Pebblebrook Hotel Trust (NYSE: PEB) announced that its operating partnership, Pebblebrook Hotel, L.P., and PEB Finance Corp. intend to offer $350 million in senior notes due 2029 through a private placement. The notes will be senior unsecured obligations guaranteed by the company and its subsidiaries. The net proceeds will be used to pay down unsecured term loans (at least $253 million) and potentially repurchase a portion of convertible senior notes (up to $87.4 million).
The notes will not be registered under the Securities Act and will be offered only to qualified institutional buyers and certain non-U.S. persons in offshore transactions. This announcement does not constitute an offer to sell or a solicitation of an offer to buy the notes.
Pebblebrook Hotel Trust (NYSE: PEB) ha annunciato che il suo partenariato operativo, Pebblebrook Hotel, L.P., e PEB Finance Corp. intendono offrire 350 milioni di dollari in note senior con scadenza nel 2029 attraverso un collocamento privato. Le note saranno obbligazioni senior non garantite garantite dalla società e dalle sue filiali. I proventi netti saranno utilizzati per rimborsare prestiti a lungo termine non garantiti (almeno 253 milioni di dollari) e, potenzialmente, riacquistare una parte delle note senior convertibili (fino a 87,4 milioni di dollari).
Le note non saranno registrate ai sensi del Securities Act e saranno offerte solo a acquirenti istituzionali qualificati e a determinate persone non statunitensi in transazioni offshore. Questo annuncio non costituisce un'offerta di vendita né una sollecitazione di un'offerta per acquistare le note.
Pebblebrook Hotel Trust (NYSE: PEB) anunció que su asociación operativa, Pebblebrook Hotel, L.P., y PEB Finance Corp. pretenden ofrecer 350 millones de dólares en notas senior que vencen en 2029 a través de una colocación privada. Las notas serán obligaciones senior no garantizadas garantizadas por la empresa y sus subsidiarias. Los ingresos netos se utilizarán para pagar préstamos a plazo no garantizados (al menos 253 millones de dólares) y, potencialmente, recomprar una parte de las notas senior convertibles (hasta 87,4 millones de dólares).
Las notas no se registrarán bajo la Ley de Valores y solo se ofrecerán a compradores institucionales calificados y a ciertas personas no estadounidenses en transacciones en el extranjero. Este anuncio no constituye una oferta de venta ni una solicitud de una oferta para comprar las notas.
펩블브룩 호텔 트러스트(NYSE: PEB)는 그 운영 파트너십인 펩블브룩 호텔, L.P.와 PEB 파이낸스 코프가 2029년 만기되는 3억 5천만 달러 규모의 선순위 채권을 사모로 발행할 계획이라고 발표했습니다. 이 채권은 회사 및 그 자회사들에 의해 보장되는 선순위 무담보 의무가 될 것입니다. 순수익은 무담보 장기 대출을 상환하기 위해 (최소 2억 5천 3백만 달러) 사용되며, 잠재적으로는 전환 가능한 선순위 채권의 일부를 재매입하기 위해 (최대 8천 740만 달러) 사용될 수 있습니다.
이 채권은 증권법에 따라 등록되지 않으며 자격 있는 기관 투자자와 특정 비미국인에게 해양 거래를 통해서만 제공됩니다. 이 발표는 채권 판매 제안이나 구매 제안 요청을 구성하지 않습니다.
Pebblebrook Hotel Trust (NYSE: PEB) a annoncé que son partenariat opérationnel, Pebblebrook Hotel, L.P., et PEB Finance Corp. ont l'intention d'offrir 350 millions de dollars en obligations senior arrivant à échéance en 2029 par le biais d'un placement privé. Les obligations seront des obligations senior non garanties garanties par la société et ses filiales. Le produit net sera utilisé pour rembourser des prêts à terme non garantis (au moins 253 millions de dollars) et potentiellement rachat d'une partie des obligations senior convertibles (jusqu'à 87,4 millions de dollars).
Les obligations ne seront pas enregistrées en vertu de la Loi sur les valeurs mobilières et ne seront offertes qu'aux investisseurs institutionnels qualifiés et à certaines personnes non américaines lors de transactions offshore. Cette annonce ne constitue pas une offre de vente ni une sollicitation d'une offre d'achat des obligations.
Pebblebrook Hotel Trust (NYSE: PEB) gab bekannt, dass seine Betriebspartnerschaft, Pebblebrook Hotel, L.P., und PEB Finance Corp. beabsichtigen, 350 Millionen Dollar an Senior Notes mit Fälligkeit im Jahr 2029 durch eine Privatplatzierung anzubieten. Die Notes werden senior unbesicherte Verbindlichkeiten sein, die von dem Unternehmen und seinen Tochtergesellschaften garantiert werden. Die Nettoerlöse werden verwendet, um unbesicherte Terminkredite (mindestens 253 Millionen Dollar) abzubauen und möglicherweise eine Rückkauf eines Teils der konvertierbaren Senior Notes (bis zu 87,4 Millionen Dollar) zu finanzieren.
Die Notes werden nicht unter dem Wertpapiergesetz registriert und nur an qualifizierte institutionelle Anleger sowie bestimmte nicht US-Personen in Offshore-Transaktionen angeboten. Diese Bekanntmachung stellt kein Angebot zum Verkauf oder eine Aufforderung zur Abgabe eines Angebots zum Kauf der Notes dar.
- Raising $350 million through senior notes offering
- Paying down at least $253 million in unsecured term loans
- Potential repurchase of convertible senior notes up to $87.4 million
- Increasing debt burden with new $350 million senior notes
- Potential dilution if convertible senior notes are not repurchased
The Notes and the related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), any state securities laws or the securities laws of any other jurisdiction. The Notes may not be offered or sold in
This press release contains certain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including those related to the offering of Notes, the use of proceeds therefrom and whether or not the Issuers will consummate the offering. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “assume,” “plan,” references to “outlook” or other similar words or expressions. These forward-looking statements are subject to various risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240922918989/en/
Raymond D. Martz, Co-President and Chief Financial Officer, Pebblebrook Hotel Trust - (240) 507-1330
Source: Pebblebrook Hotel Trust
FAQ
What is the size of Pebblebrook Hotel Trust's (PEB) proposed senior notes offering?
How does Pebblebrook Hotel Trust (PEB) plan to use the proceeds from the senior notes offering?
Who are the eligible buyers for Pebblebrook Hotel Trust's (PEB) senior notes offering?
Are Pebblebrook Hotel Trust's (PEB) proposed senior notes registered under the Securities Act?
