Pebblebrook Hotel Trust (PEB): debt financing — Pebblebrook raises $400M 1.625% convertible notes due 2030; repurchases $400M 2026 notes and 4.3M shares

Pebblebrook Hotel Trust

Issued $400M aggregate principal of 1.625% Convertible Senior Notes due Jan 15, 2030; net proceeds ~$389.7M.
Used proceeds plus $4.1M cash to repurchase $400M of outstanding 1.75% Convertible Notes due 2026 in private transactions.
Repurchased ~4.3M common shares at $11.56 per share via existing buyback program concurrent with note pricing.
Initial conversion price ~$15.89/share (37.5% premium over $11.56 close); capped call transactions cap dilution at $20.23/share.
Notes are senior unsecured, redeemable after July 20, 2028 if stock price exceeds 130% of conversion price for 20 days.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

Pebblebrook Hotel Trust incurred convertible notes of $400.0 million aggregate principal amount with The Bank of New York Mellon Trust Company, N.A. at 1.625% per year maturing January 15, 2030.

Instrument: convertible notes
Principal: $400.0 million aggregate principal amount
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Rate: 1.625% per year
Maturity: January 15, 2030
Event: incurrence

Exact text from the filing

“Purchase Agreement”) with the representative of the several initial purchasers named therein (the “Initial Purchasers”) pursuant to which the Company agreed to offer and sell $400.0 million aggregate principal amount of its 1.625% Convertible Senior Notes due 2030 (the “2030 Notes”), inclusive of $50.0 million aggregate principal amount of the 2030 Notes that were

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Pebblebrook Hotel Trust filing history →

Source: SEC EDGAR

accession 0001474098-25-000129

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