SVC plans $745M ABS securitization to fund redemption of $700M 8.375% notes

Service Properties Trust

Issuers to sell $745M ABS notes in three tranches: Class A $220M at 5.157%, Class B $375M at 5.795%, Class M $150M at 7.549%.
Net proceeds of ~$730M to redeem all $700M 8.375% Senior Notes due 2029 and for general corporate purposes.
ABS notes secured by 472 net lease retail properties; non-recourse; expected maturity March 2031, callable at par March 2029.
Redemption of 2029 notes expected on or about March 7, 2026, funded with ABS proceeds.

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