FelCor Announces Closing of $200 Million Term Loan
15 Junho 2009 - 10:10AM
Business Wire
FelCor Lodging Trust Incorporated (NYSE: FCH) today announced
that its wholly-owned subsidiaries closed a $200 million secured
term loan. JPMorgan Securities Inc. was the lead arranger, and
JPMorgan Chase Bank, N.A., is the administrative agent and provided
a portion of the loan. Proceeds of the new loan will be used for
general corporate purposes, including repayment of outstanding
obligations totaling $128 million under FelCor�s line of credit,
which was terminated by the Company.
The new loan is non-recourse and secured by nine hotels,
representing 2,331 guest rooms. The loan bears interest at LIBOR
plus 350 basis points, has a 65 percent LTV ratio and, including
both extension options, matures in 2013.
�We are pleased to have closed this loan in a very challenging
environment. This transaction allows us to terminate our line of
credit, thereby eliminating restrictive financial covenants and
increasing our flexibility to encumber other hotels. Equally
important, this new loan extends our maturity profile and provides
additional liquidity in the form of cash on hand. We are now
focused on refinancing debt maturing in 2010 and 2011,� said Andrew
J. Welch, FelCor�s Executive Vice President and Chief Financial
Officer.
FelCor, a real estate investment trust, is the nation�s largest
owner of upper upscale, all-suite hotels. FelCor owns interests in
87 hotels and resorts, located in 23 states and Canada. FelCor�s
portfolio consists mostly of upper upscale hotels, which are
flagged under global brands such as Embassy Suites Hotels�,
Doubletree�, Hilton�, Marriott�, Renaissance�, Sheraton�, Westin�
and Holiday Inn�. Additional information can be found on the
Company�s Web site at www.felcor.com.
Felcor Lodging (NYSE:FCH)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Felcor Lodging (NYSE:FCH)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024
Notícias em tempo-real sobre Felcor Lodging Trust Incorporated (delisted) da New York Stock Exchange bolsa de valores: 0 artigos recentes
Mais Notícias de FelCor Lodging Trust Incorporated