Service Properties Trust Prices $580 Million Zero Coupon Senior Secured Notes Due September 2027 with a 12-Month Extension Option
Service Properties Trust - Shares of Beneficial Interest (SVC)
Last service properties trust - shares of beneficial interest earnings: 2/28 07:00 am
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Source: Business Wire
Proceeds Will Be Used to Repay in Full $450 Million Senior Unsecured Notes due October 2026 and Reduce Amounts Outstanding Under Its Revolving Credit Facility NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC) today announced it has priced an aggregate principal amount at maturity of $580 million of zero coupon senior secured notes due September 2027, with a 12-month extension option, subject to the satisfaction of certain conditions and payment of an extension fee. The new notes will generate approximately $500 million in gross proceeds before issuance costs and will accrete at a rate of 7.50% annually, compounded semi-annually. If the 12-month extension option is exercised, interest payments will be due semi-annually during the extension period at an initial interest rate of 7.50% with increases of 25 basis points every 120 days that the notes remain outstanding. The new notes are guaranteed by certain of SVC’s subsidiaries and secured by first priority liens
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News
- Service Properties Trust (NASDAQ:SVC) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating.MarketBeat
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- Service Properties Trust Announces Third Quarter 2025 Results [Yahoo! Finance]Yahoo! Finance
- Service Properties Trust Announces Third Quarter 2025 ResultsBusiness Wire
- Service Properties Trust Q3 2025 Earnings Preview [Seeking Alpha]Seeking Alpha
SVC
Earnings
- 11/5/25 - Miss
SVC
Sec Filings
- 11/24/25 - Form 8-K
- 11/20/25 - Form 4
- 11/18/25 - Form 8-K
- SVC's page on the SEC website