FelCor Announces Completion of Tender Offers for Its Senior Floating Rate Notes Due 2011 and 7 5/8% Senior Notes Due 2007
15 Novembro 2006 - 9:04PM
PR Newswire (US)
IRVING, Texas, Nov. 15 /PRNewswire-FirstCall/ -- FelCor Lodging
Trust Incorporated (NYSE:FCH), one of the nation's largest lodging
real estate investment trusts (REITs), and its subsidiary, FelCor
Lodging Limited Partnership (FelCor LP), today reported the
completion of its previously announced tender offers for all of its
$290 million aggregate principal amount of senior floating rate
notes due 2011 (Cusip No. 31430QAS6), and all of its $125 million
aggregate principal amount of 7 5/8% senior notes due 2007 (Cusip
No. 313917AF3). Through November 14, 2006, when the tender offers
expired, FelCor LP had received tenders for $262.5 million of the
floating rate notes, or approximately 91% of the notes outstanding
at the commencement of the tender offer. The remaining outstanding
floating rate notes have been called for redemption by FelCor LP on
December 1, 2006, pursuant to a notice of redemption previously
issued on October 31, 2006. Also, through November 14, 2006, FelCor
LP received tenders for $114.3 million of the 7 5/8% notes, or
approximately 91% of the notes outstanding at the commencement of
the tender offer. All of the tendered floating rate notes and 7
5/8% notes have been accepted by FelCor LP and purchased. Merrill
Lynch & Co. acted as Dealer Manager and Solicitation Agent for
the tender offers. Questions concerning the tender offers may be
directed to Merrill Lynch & Co. at (212) 449-4914 (collect) or
(888) 654-8637 (toll free). FelCor is the nation's largest owner of
upscale, all-suite hotels. FelCor's consolidated portfolio is
comprised of 104 hotels, located in 27 states and Canada. FelCor
owns 65 upper upscale, all-suite hotels, and is the largest owner
of Embassy Suites Hotels(R) and Doubletree Guest Suites(R) hotels.
FelCor's hotels are flagged under global brands such as Embassy
Suites Hotels, Doubletree(R), Hilton(R), Sheraton(R), Westin(R) and
Holiday Inn(R). FelCor has a current market capitalization of
approximately $3.3 billion. With the exception of historical
information, the matters discussed in this news release include
"forward looking statements" within the meaning of the federal
securities laws. Forward looking statements are not guarantees of
future performance. Numerous risks and uncertainties, and the
occurrence of future events, may cause actual results to differ
materially from those currently anticipated. Certain of these risks
and uncertainties are described in our filings with the Securities
and Exchange Commission. Although we believe our current
expectations are based upon reasonable assumptions, we can give no
assurance that our expectations will be attained or that actual
results will not differ materially. DATASOURCE: FelCor Lodging
Trust Incorporated CONTACT: Stephen A. Schafer, Vice President of
Investor Relations, +1-972-444-4912, or , or Monica L. Hildebrand,
Vice President of Communications, +1-972-444-4917, or , both of
FelCor Lodging Trust Incorporated Web site: http://www.felcor.com/
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