Service Properties Trust Announces a Tender Offer for up to $100,000,000 of its Outstanding 4.25% Senior Notes Due 2021

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[{"type":"text","content":" NEWTON, Mass.--(BUSINESS WIRE)--\nService Properties Trust (Nasdaq: SVC), or SVC, a Maryland real estate investment trust, or REIT, announced today that it has commenced a cash tender offer, or the Offer, to purchase up to $100,000,000 of its outstanding $400,000,000 aggregate principal amount of 4.25% Senior Notes due 2021 (CUSIP No. 44106M AU6), or the Notes.\n\n\nThe following table sets forth some of the terms of the Offer:\n\n\n\n\nTitle of Security\n\n\n\nCUSIP\nNumber\n\n\n\nPrincipal Amount\nOutstanding\n\n\n\nTender Cap\n(Principal\nAmount)\n\n\n\nReference U.S.\nTreasury\nSecurity\n\n\n\nBloomberg\nReference\nPage(1)\n\n\n\nFixed Spread\n(basis points)\n\n\n\nEarly Tender\nPremium\n(per $1,000)\n\n\n\n\n\n4.25% Senior Notes due 2021\n\n\n\n44106M AU6\n\n\n\n$400,000,000\n\n\n\n$100,000,000\n\n\n\n1.75% UST due 11/15/2020\n\n\n\nFIT3\n\n\n\n50 bps\n\n\n\n$50\n\n\n\n\n\n\nThe applicable page on Bloomberg from which the Dealer Managers will quote the bid-side price of the reference U.S. Treasury Security. In the above table, “UST” denotes a U.S. Treasury Security.\n\n\n\nThe Offer is being made upon, and is subject to, the terms and conditions set forth in the Offer to Purchase, dated June 2, 2020, or the Offer to Purchase, and the related Letter of Transmittal. The Offer will expire at 11:59 p.m., New York City time, on June 29, 2020, unless extended by SVC, or the Expiration Date, or earlier terminated. Tenders of Notes may be withdrawn at any time at or prior to 5:00 p.m., New York City time, on June 15, 2020, which is both the Early Tender Deadline and the Withdrawal Deadline, but may not be withdrawn thereafter except in certain limited circumstances as described in the Offer to Purchase.\n\n\nThe total consideration, or the Total Consideration, to be paid in the Offer for Notes that are validly tendered and not withdrawn at or prior to the Early Tender Deadline and accepted for purchase will be determined in the manner described in the Offer to Purchase by reference to a fixed spread over the yield to maturity of the Reference U.S. Treasury Security specified in the table above and in the Offer to Purchase and will include an early tender premium of $50 per $1,000 principal amount of the Notes accepted for purchase, or the Early Tender Premium. Holders of Notes who validly tender their Notes following the Early Ten...

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