IRVING, Texas, Jun 08, 2010 (BUSINESS WIRE) -- FelCor Lodging Trust Incorporated /quotes/comstock/13*!fch/quotes/nls/fch (FCH 5.40, -0.18, -3.14%) today announced that it has agreed to repay $177 million of secured debt at a significant discount to the principal balance. The two loans bear interest at LIBOR plus 155 basis points and are scheduled to mature in May 2012. The loans will be settled for $130 million, plus accrued interest, representing a 27% discount to the principal balance. The two hotels that secure the loans have a combined 921 guest rooms and more than 100,000 square feet of meeting space. The payment, approximately $141,000 per room, will be funded with cash on hand and reflects a substantial discount to replacement cost.
Read More:
0 comments:
Post a Comment