Service Properties Trust Prices $610.2 Million Asset-backed Securitization at 5.60% That Matures in February 2028

Feb 06, 2023

Service+Properties+Trust+%28Nasdaq%3A+SVC%29 today announced that its subsidiary, SVC ABS LLC, has priced $610.2 million in principal amount of net lease mortgage notes in a transaction exempt from registration from the Securities Act of 1933, as amended, or the Securities Act, and sold to Qualified Institutional Buyers as defined in Rule 144A under the Securities Act and in offshore transactions to non-U.S. persons outside the U.S. in accordance with Regulation S under the Securities Act. This transaction is expected to close on February 10, 2023, subject to the satisfaction of customary closing conditions. The notes will be issued in three classes to institutional buyers in the following principal amounts, and are expected to be rated by Standard & Poor’s Ratings Services as follows:

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