LaSalle Hotel Properties Announces Launch of Offering of Common Shares
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LaSalle Hotel Properties Announces Launch of Offering of Common Shares
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Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2010-03-02
LaSalle Hotel Properties (NYSE:LHO) today announced that it plans to sell 5,350,000 common shares in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission.
The Company also plans to grant the underwriters an option to purchase up to an additional 802,500common shares to cover overallotments, if any.
Raymond James and Deutsche Bank Securities are acting as joint book-running managers for the offering.
The Company intends to use the net proceeds of this offering to reduce amounts outstanding under its senior unsecured credit facility and under the unsecured credit facility of the Company's taxable REIT subsidiary, LaSalle Hotel Lessee, Inc., and for general corporate purposes.
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