FelCor sets pricing for redemption of 7 3/8% notes

New York, June 7 - FelCor Lodging Trust Inc. and its subsidiary FelCor Lodging LP set the price for the previously announced redemption of FelCor Lodging LP's $175 million principal amount of 7 3/8% senior notes due 2004.

The Irving, Texas, lodging real estate investment trust will pay $1,018.13 per $1,000 principal amount, excluding accrued interest.

The price was calculated in accordance with the note indenture, based on a benchmark Treasury yield of 1.25% as of June 4 plus a fixed spread of 25 basis points.

Settlement will occur on June 9, for a total of $1,032.07 per $1,000 of principal amount, including 68 days of accrued interest.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.