Service Properties Trust (SVC) prices $800 million senior notes offering.

Service Properties Trust (SVC) announced today that it has priced an offering of $800 million 7.50% senior unsecured notes due 2025.  Proceeds will be used to reduce outstanding on the company's revolving credit facility ($457 million outstanding at March 31, 2020), and backstop the company's repurchase offer for up to $350 million of its 4.25% senior notes due 2021.

Established in 1995, Service Properties Trust (SVC) is a diversified equity REIT with an owned portfolio of 1,142 properties in 47 states and Canada.