Market Overview

FelCor Proposes Senior Notes Offering

Related FCH
FelCor Shares Drop On Divestiture News - Analyst Blog
FelCor Agrees to Sell Doubletree Suites in Charlotte for $37M

FelCor Lodging Trust Incorporated (NYSE: FCH) and its subsidiary, FelCor Lodging Limited Partnership ("FelCor LP"), today announced FelCor LP intends to offer, subject to market conditions, $500 million of senior secured notes. The senior secured notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to persons outside the United States under Regulation S of the Securities Act. The pricing and terms are to be determined.

FelCor LP intends to use the proceeds of the offering to redeem approximately $258 million in aggregate face amount of its 10% senior notes due 2014, to repay a $186 million mortgage loan that bears interest at 8.1% and for general corporate purposes.

The notes will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Posted-In: News Offerings


Related Articles (FCH)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional