FelCor Lodging gets $225 million amended and restated credit facility

By Sara Rosenberg

New York, Dec. 20 - FelCor Lodging Trust Inc. closed on a $225 million amended and restated revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Through the amendment and restatement, the revolver maturity was extended to June 2017 from August 2015, inclusive of a one-year extension option, and pricing was reduced to Libor plus 337.5 basis points from Libor plus 450 bps.

In addition, the unused fee was reduced by 10 bps.

J.P. Morgan Securities LLC and Bank of America Merrill Lynch acted as the joint lead arrangers and bookrunners on the deal that was completed on Dec. 18.

FelCor is an Irving, Texas-based real estate investment trust that owns primarily upper-upscale, full-service hotels.

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