Service Properties Trust Prices $580 Million Zero Coupon Senior Secured Notes Due September 2027 with a 12-Month Extension Option

(NASDAQ:SVC) 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.