Loading...
Loading...
FelCor Lodging Trust Incorporated
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in