Pebblebrook Hotel Trust slips after launching $350 mln convertible debt deal

** Shares of Pebblebrook Hotel Trust PEB.N down 4.1% post-market to $11.09 as it seeks capital to refinance some debt

** Hotel and resort REIT announces private offering of $350 mln convertible bonds (CBs) due 2030

** Co plans to use net offering proceeds to repurchase certain of its 1.75% CBs due 2026

** It also expects to enter into capped call transactions, derivative transactions employed to help mitigate dilution

** Bethesda, Maryland-based PEB has ~$1.4 bln market cap, based on ~118.6 mln shares outstanding

** PEB shares on Tues ended down 0.3% at $11.56. YTD, shares have lost ~15%

** Of 12 analysts covering PEB, recommendation breakdown is 2 "strong buy" or "buy", 8 "hold" and 2 "sell" ratings; median PT is $11, according to LSEG