FelCor Prices $525M Senior Notes Offering
FelCor Lodging Trust Incorporated (NYSE: FCH) and its subsidiary, FelCor Lodging Limited Partnership ("FelCor LP"), today announced that FelCor LP priced $525 million of its senior secured notes offering. The senior secured notes will bear interest at 5.625% and mature in 2023.
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%, both on January 2, 2013, and for general corporate purposes.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.