FelCor Completes $225 Million Credit Facility
20 Dezembro 2012 - 7:11PM
Business Wire
FelCor Lodging Trust Incorporated (NYSE: FCH) today announced
that it amended and restated its $225 million secured line of
credit facility. Pricing and other terms of the amended facility
have been improved significantly.
The facility now matures in June 2017 (extended from August
2015), inclusive of a one-year extension option, subject to
satisfaction of certain conditions. Borrowings under the facility
bear interest at LIBOR (no floor) plus 3.375% (reduced from LIBOR
plus 4.50%). The unused commitment fee decreased 10 basis points.
The facility is secured by mortgages and related security interests
on eight hotels and includes rights for partial release and
substitution of properties, subject to certain conditions.
J.P. Morgan Securities, LLC and Merrill Lynch, Pierce, Fenner
& Smith Incorporated acted as Joint Lead Arrangers and Joint
Bookrunners. JPMorgan Chase Bank, N.A., will continue to serve as
Administrative Agent. Bank of America, N.A. served as Syndication
Agent.
About FelCor:
FelCor, a real estate investment trust, owns 66 primarily
upper-upscale, full-service hotels that are located in major and
resort markets throughout 22 states. FelCor partners with leading
hotel companies to operate its diversified portfolio of hotels,
which are flagged under globally recognized names such as,
Doubletree®, Embassy Suites®, Fairmont®, Hilton®, Marriott®,
Renaissance®, Sheraton®, Westin® and Holiday Inn®, and premier
independent hotels in New York. Additional information can be found
on the Company's Web site at www.felcor.com.
Felcor Lodging (NYSE:FCH)
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