Service Properties Trust prices $1.0B 8.625% senior secured notes to redeem 2024 notes

Service Properties Trust

Priced $1.0B of 8.625% senior secured notes; closing expected November 16, 2023.
Proceeds plus cash will redeem 4.650% and 4.350% senior unsecured notes due 2024 on December 9, 2023.
New notes secured by equity interests in TA Landlord Subsidiaries and guaranteed by certain subsidiaries.
Redemption includes make-whole premium plus accrued interest; total cost not disclosed.

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