Service Properties Trust Announces Early Tender Offer Results for its $350,000,000 Outstanding 4.50% Senior Notes Due 2025
The following table sets forth certain information regarding the Offer, including the aggregate principal amount of Notes that were validly tendered and not withdrawn at or prior to 5:00 p.m.,
Title of Notes |
CUSIP/ISIN |
Outstanding Principal Amount |
Notes Tendered and Accepted (Principal Amount) |
|
CUSIP: 44106M AT9 ISIN: US44106MAT99 |
|
|
The deadline to validly withdraw tenders has passed. Accordingly, the Notes that were validly tendered and not withdrawn at or prior to the Early Tender Deadline may not be withdrawn, except in limited circumstances where additional withdrawal rights are required by law.
As previously announced, the total consideration, or the Total Consideration, to be paid in the Offer for Notes that were validly tendered and not validly withdrawn on or prior to the Early Tender Deadline and accepted for purchase will be determined in the manner described in the Offer to Purchase and Consent Solicitation Statement by reference to a fixed spread over the yield to maturity of the
Tenders of Notes will be accepted only in principal amounts equal to
Payments for tendered Notes will include accrued and unpaid interest from and including the most recent interest payment date for the Notes up to, but not including, the settlement date, which is expected to be June 3, 2024, or the Early Settlement Date, subject to all conditions to the Offer having been either satisfied or waived by SVC.
In connection with the Offer, SVC solicited consents from holders of Notes to proposed amendments to the Indenture which allow SVC to deposit cash and/or
Citigroup Global Markets Inc. is acting as dealer manager for the Offer and the solicitation agent for the Consent Solicitation. The depositary and information agent for the Offer and the Consent Solicitation is Global Bondholder Services Corporation. Questions regarding the tender offer may be directed to Citigroup Global Markets Inc. at (212) 723-6106 (collect) or (800) 558-3745 (
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The Offer is being made solely by means of the Offer to Purchase and Consent Solicitation Statement that SVC has distributed to holders of the Notes.
About Service Properties Trust
SVC is a real estate investment trust with over
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements, including statements about the Offer and the Satisfaction and Discharge, that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever SVC uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, SVC is making forward-looking statements. These forward-looking statements are based upon SVC’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. SVC currently intends to effect the Satisfaction and Discharge of any Notes not purchased in the Offer on the Early Settlement Date; however, SVC may determine not to effect the Satisfaction and Discharge or it may be delayed. Actual results may differ materially from those contained in or implied by SVC’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond SVC’s control.
The information contained in SVC’s filings with the SEC, including under the caption “Risk Factors” in SVC’s periodic reports, or incorporated therein, identifies other important factors that could cause differences from SVC’s forward-looking statements. SVC’s filings with the SEC are available on the SEC’s website at www.sec.gov.
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.
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Stephen Colbert, Director, Investor Relations
(617) 796-8232
Source: Service Properties Trust