Pebblebrook Hotel Trust Completes $400 Million Convertible Senior Notes Offering

MT Newswires Live

Sep 19, 2025

Pebblebrook Hotel Trust (PEB) said Friday it has closed its private offering of $400 million in 1.625% convertible senior notes due 2030, including $50 million from the exercise of the overallotment option.

The notes, which pay 1.625% interest annually, are senior unsecured obligations, maturing on Jan. 15, 2030, and the conversion price is set at about $15.89 per share.

The company used proceeds from the offering, along with $4.1 million in cash, to repurchase $400 million in outstanding 1.75% convertible senior notes due 2026 and approximately 4.3 million common shares at $11.56 per share, it added.

In addition, the company also entered into capped call transactions to reduce potential dilution and offset cash payments on conversions, with an initial cap price of $20.23 per share, Pebblebrook said.

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