Tuesday, FelCor Lodging Trust Inc. (FCH) and its subsidiary FelCor Lodging LP completed the previously announced offering of $636 million in aggregate principal amount of FelCor LP's senior secured notes. The New Notes bear a fixed interest rate of ten percent per year and mature on October 1, 2014.
The company noted that the New Notes will be secured by a pledge of the limited partner interests in FelCor LP owned by FelCor, a combination of first lien mortgages and related security interests on up to 14 hotels, and pledges of equity interests in certain subsidiaries of FelCor LP.
FelCor Lodging Trust Inc. operates as a lodging real estate investment trust primarily in the United States. It owns various hotels, including Embassy Suites Hotels, Doubletree, Hilton, Sheraton/Westin, Holiday Inn, and Crown Plaza hotels in North America.
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