FelCor to redeem $135 million of series B preferreds

New York, March 8 - FelCor Lodging Trust Inc. said it will redeem 54,000 shares of its 9% series B cumulative redeemable preferred stock with the gross proceeds of its sale of $135 million of new 8% series C cumulative redeemable preferred stock.

Underwriting discounts and commissions plus offering expenses for the new preferreds plus accrued dividends on the old preferreds will be paid from available cash.

FelCor is an Irving, Tex., real estate investment trust owning full-service hotels.

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