Service Properties Trust Announces Early Results of and Waiver of Closing Condition for its Tender Offer for up to $350,000,000 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, previously announced that it commenced a cash tender offer, or the Offer, to purchase up to $350,000,000, or the Tender Cap, of its outstanding $400,000,000 aggregate principal amount of 4.25% Senior Notes due 2021 (CUSIP No. 44106M AU6), or the Notes. The terms and conditions of the Offer are described in the Offer to Purchase, dated June 2, 2020, or the Offer to Purchase, as amended by the press release, dated June 3, 2020, as further amended by this press release.\n\n\nThe 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information regarding the Offer, including the aggregate principal amount of Notes that were validly tendered and not withdrawn at or prior to 5:00 p.m., New York City time, on June 15, 2020, or the Early Tender Deadline, and the aggregate principal amount of Notes to be accepted for purchase by SVC:\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\nNotes Tendered\n(Principal Amount)\n\n\n\n \n\n\nNotes Accepted\n(Principal Amount)\n\n\n\n\n\n4.25% Senior Notes due 2021\n\n\n\n44106M\nAU6\n\n\n\n$400,000,000\n\n\n\n$350,000,000\n\n\n\n$372,608,000\n\n\n\n$350,000,000(1)\n\n\n\n\n\n(1) Reflects the proration of 93.96% determined in the manner set forth in the Offer to Purchase.\n\n\nSince Notes were tendered in the Offer in an amount in excess of the Tender Cap, SVC will accept the tendered Notes subject to proration. Furthermore, since the Offer was fully subscribed as of the Early Tender Deadline, Holders who validly tender Notes following the Early Tender Deadline will not have any of their Notes accepted for purchase. SVC expects to make payment for such Notes on June 17, 2020, or the Early Settlement Date, subject to all conditions to the Offer having been either satisfied or waived by SVC.\n\n\nThe deadline to validly withdraw tenders has passed. Accordingly, the Notes that were already tendered at the Early Tender Deadline may not be withdrawn, except in limited circumstances where additional withdrawal rights are required by law.\n\n\nAs previously announced, the total consideration, or the Total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...

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