FelCor Lodging seeks OK to skip change-of-control offer for 6% notes

By Angela McDaniels

Tacoma, Wash., Aug. 1 – FelCor Lodging Trust Inc. subsidiary FelCor Lodging LP began a consent solicitation for its 6% senior notes due 2025, according to a company news release.

The issuer is undertaking the consent solicitation at the request and expense of RLJ Lodging Trust as part of RLJ’s plan to acquire FelCor.

FelCor is soliciting consents from noteholders of record as of 5 p.m. ET on July 31 to amend the indenture governing the notes to waive the issuer’s obligation to make a change-of-control offer and to add certain definitions relating to the merger.

Consents are needed from the holders of at least a majority of the outstanding notes.

The consent solicitation will end at 5 p.m. ET on Aug. 9.

The issuer is offering a consent fee of $2.50 per $1,000 principal amount of notes.

The consent fee will only be paid once the merger is completed, which is expected to occur on or about Aug. 31.

The information agent is D.F. King & Co., Inc. (877 361-7972, 212 269-5550 or fch@dfking.com).

FelCor and RLJ are real estate investment trusts based in Irving, Texas, and Bethesda, Md., respectively, that own hotels.

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