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MeriStar calls $100 million 10½% notes
New York, Feb. 3 - MeriStar Hospitality Corp. said it will redeem $100 million of its 10½% senior notes due 2009 on March 8.
The company will pay par plus a redemption premium of 5.25% and accrued interest for a total of $107.671 million.
Following the call, MeriStar will have $105.894 million of the notes outstanding, according to an 8-K filing with the Securities and Exchange Commission.
On Feb. 1 the Bethesda, Md.-based owner of full-service hotels and resorts said it plans to use most of the majority of $367 million in asset sales to reduce debt, including the redemption of most of its 10½% notes. It had previously said on Nov. 1 it intended to call between $100 million and $150 million of the notes.
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