Hospitality Properties Trust Prices 8.5 Mln Shares Offering At $28/Shr

(RTTNews) - Hospitality Properties Trust (HPT) said it has priced a public offering of 8.5 million shares at $28.00 per share. The settlement of this offering may happen on Wednesday, November 13, 2013. The net proceeds of the offering are likely to be used for the repayment of amounts outstanding under its unsecured revolving credit facility and for general business purposes. The underwriters were granted a 30-day option to buy up to an additional 1.275 million shares.

The joint book-running managers for the common share offering are Citigroup, BofA Merrill Lynch and Morgan Stanley. The co-lead managers are Jefferies, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities. The co-managers are Baird, BB&T Capital Markets, Janney Montgomery Scott, JMP Securities, MLV & Co., and Oppenheimer & Co.