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.
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 greater detail in our
filings with the Securities and Exchange Commission.
believe our current expectations to be based upon reasonable
assumptions, we can give no assurance that our expectations will be
attained or that actual results will not differ materially.
undertake no obligation to update any forward-looking statement to
conform the statement to actual results or changes in our expectations.
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