Distribution under the securities will be payable semi-annually in arrear on April 30 and Oct 30 each year, and is set to commence on April 30, 2025. Any distribution unpaid in accordance with the conditions of the securities are expected to be cumulative.
Hotel Properties Limited has priced $160 million worth of subordinated perpetual securities under its $1 billion multicurrency debt issuance programme.
The securities carry a rate of distribution of 5.5% per annum, with no fixed redemption date.
