FelCor Announces Cash Tender Offer for Its 6.75% Senior Secured Notes Due 2019
14 Maio 2015 - 10:24AM
Business Wire
FelCor Lodging Trust Incorporated (NYSE:FCH) today announced
that its operating partnership, FelCor Lodging Limited Partnership
(“FelCor LP”), has commenced a cash tender offer to purchase any
and all of the outstanding aggregate principal amount of its 6.75%
Senior Secured Notes due 2019. As of May 14, 2015, FelCor LP had
$525 million aggregate principal amount of the notes outstanding.
The tender offer is being made pursuant to an offer to purchase and
a related letter of transmittal, each dated as of May 14, 2015. The
tender offer will expire at 5:00 p.m., New York City time, on May
20, 2015, unless extended (the “Expiration Time”).
Holders of notes that are validly tendered and accepted at or
prior to the Expiration Time, or who deliver to the depositary and
information agent a properly completed and duly executed Notice of
Guaranteed Delivery and subsequently deliver such notes, each in
accordance with the instructions described in the Offer to
Purchase, will receive total cash consideration of $1,037.50 per
$1,000 principal amount of notes, plus any accrued and unpaid
interest up to, but not including, the settlement date.
The tender offer is contingent upon, among other things, FelCor
LP’s successful completion of one or more debt financing
transactions, including potential debt securities offerings, in an
amount sufficient to fund the purchase of validly tendered notes
accepted for purchase in the tender offer and to pay all fees and
expenses associated with such financing and the tender offer. The
tender offer is not conditioned on any minimum amount of notes
being tendered. FelCor LP may amend, extend or terminate the tender
offer, in its sole discretion. Tendered notes may be withdrawn at
any time prior to the Expiration Time.
The tender offer is being made pursuant to the terms and
conditions contained in the Offer to Purchase, related Letter of
Transmittal and Notice of Guaranteed Delivery, copies of which may
be obtained from Global Bondholder Services Corporation, the
information agent for the offer, by telephone at (866) 794-2200
(toll-free) or for banks and brokers, at (212) 430-3774 (Banks and
Brokers only), at the following web address:
http://www.gbsc-usa.com/FelCor/ or in writing at Global Bondholder
Services Corporation 65 Broadway, Suite 404 New York, New York
10006 Attention: Corporate Actions.
Persons with questions regarding the tender offer should contact
the following dealer managers: BofA Merrill Lynch, by telephone at
(888) 292-0070 (U.S. toll free) or (980) 388-3646 (call collect)
and J.P. Morgan Securities LLC by telephone at (212) 270-1200 (call
collect) or (800) 245-8812 (U.S. toll-free).
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale, of
these securities in any state in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of such state.
This press release contains forward-looking statements that
involve risks and uncertainties. Factors that could cause actual
results to differ materially from those expressed or implied by the
forward-looking statements include: adverse conditions in the
capital markets and the failure of holders to participate in the
tender offer; changes in federal or state securities laws; and
changes in our business and financial condition. FelCor and FelCor
LP assume no obligation to update forward-looking information
contained in this press release.
About FelCor
FelCor, a real estate investment trust, owns a diversified
portfolio of primarily upper-upscale and luxury hotels that are
located in major and resort markets throughout the U.S. FelCor
partners with leading hotel companies to operate its hotels, which
are flagged under globally renowned names and premier independent
hotels.
FelCor Lodging Trust IncorporatedStephen A. Schafer,
972-444-4912Senior Vice Presidentsschafer@felcor.com
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