WASHINGTON (dpa-AFX) - Pebblebrook Hotel Trust (PEB) announced on Monday that its operating partnership Pebblebrook Hotel, L.P., and PEB Finance Corp. plan to issue $350 million in senior notes maturing in 2029 through a private placement.
These notes will be senior unsecured obligations backed by the company and its subsidiaries.
The funds raised will primarily be used to reduce senior unsecured term loans of at least $253 million and may also facilitate the repurchase of some convertible senior notes, totaling up to $87.4 million.
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