| Issuer / Guarantor | Pebblebrook Hotel Trust |
|---|---|
| Size | USD 400mn |
| Type | Convertible |
| Leads | Raymond James, BoA, Wells Fargo, Truist |
| Maturity | 15 Jan 2030 (4.3 years) |
| Coupon | 1.625% (1.5 - 2%) |
| Premium | 37.5% (35 - 40%) |
| Calls | NC2.75; PC @ 130% w table MW |
| Puts | t/o @ 100% |
| Div protection | Ratio adjustment (for excess above threshold) |
| T/o protection | Make-whole table |
| CoCo | 130% to Jul 2029 (3.8 yrs) |
| Announced | 16 Sep 2025 |