FelCor Prices Senior Notes Offering
by Business Wire
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.Although we 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.We undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in our expectations.