Pebblebrook Hotel (PEB) increases convertible notes offering.
Pebblebrook Hotel Trust (PEB) announced today that it has completed a $215 million reopening of its 1.75% senior convertible notes due 2026. The issue price was 105.50%. PEB also said that it has granted up to an additional $35 million of notes to cover over-allotments, which would result in a total issue size of $750 million.
Pebblebrook is an equity REIT focusing on the ownership of upper-upscale and luxury hotel properties across the U.S. The company's current portfolio includes 53 properties/13,236 rooms in 14 markets, with concentrations in San Francisco, Boston, San Diego, and Los Angeles. PEB was formed in 2009 and has an undepreciated book capitalization of approximately $6.5 billion.
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Pebblebrook is an equity REIT focusing on the ownership of upper-upscale and luxury hotel properties across the U.S. The company's current portfolio includes 53 properties/13,236 rooms in 14 markets, with concentrations in San Francisco, Boston, San Diego, and Los Angeles. PEB was formed in 2009 and has an undepreciated book capitalization of approximately $6.5 billion.
02/05/2021