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Pebblebrook Hotel Trust To Raise $350M Via Proposed Offering of Senior Notes For Debt Repayment

Pebblebrook Hotel Trustは、優先債/シニア債の提案の募集を通じて3億5000万ドルを調達し、債務返済に充てる予定です。

Benzinga ·  09/23 19:57

RepaymenrtPebblebrook Hotel Trust (NYSE:PEB) (the "Company") today announced that its operating partnership, Pebblebrook Hotel, L.P. (the "Operating Partnership"), and a wholly owned subsidiary of the Operating Partnership, PEB Finance Corp.(together with the Operating Partnership, the "Issuers"), intend to offer, in a private placement, subject to market conditions and other factors, $350 million aggregate principal amount of senior notes due 2029 (the "Notes"). The Notes will be senior unsecured obligations of the Issuers and will initially be fully and unconditionally guaranteed by the Company and the Operating Partnership's subsidiaries that guarantee the existing credit facilities of the Operating Partnership. The Operating Partnership intends to use the net proceeds from the offering as follows: (i) with at least $253.0 million, to pay down in whole or in part one or more of the Operating Partnership's unsecured term loans and (ii) with the balance, which may be up to $87.4 million, to pay down part of one or more of the Operating Partnership's other unsecured term loans and/or repurchase a portion of the convertible senior notes of the Company.

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