FelCor Announces Completion of Tender Offers for Its Senior Secured Floating Rate Notes Due 2011 and 8 ½% Senior Notes Due 2011
FelCor Lodging Trust Incorporated (NYSE: FCH) and its subsidiary FelCor
Lodging Limited Partnership (“FelCor LP”), today reported the completion
of its previously announced tender offers for all of its $215 million
aggregate principal amount of senior secured floating rate notes due
2011 (CUSIP No. 31430Q AY3) (the “Floating Rate Notes”) and all of its
$300 million aggregate principal amount of 8½% senior notes due 2011
(CUSIP No. 31430Q AL1) (the “8 ½% Notes”).
Through October 15, 2009, when the tender offers expired, FelCor LP had
received tenders for $213.3 million of the 8 ½% Notes, or approximately
71% of the amount outstanding at the commencement of the tender offer,
and $213.6 million of the Floating Rate Notes, or approximately 99% of
the amount outstanding at the commencement of the tender offer. FelCor
LP expects to call for redemption all remaining Floating Rate Notes. All
of the tendered 8 ½% Notes and Floating Rate Notes have been accepted
and purchased by FelCor LP.
FelCor, a real estate investment trust, is the nation’s largest owner of
upper upscale, all-suite hotels. FelCor owns interests in 87 hotels and
resorts, located in 23 states and Canada. FelCor’s portfolio consists
mostly of upper upscale hotels, which are flagged under global brands -
Embassy Suites Hotels®, Doubletree®, Hilton®, Marriott®, Renaissance®,
Sheraton®, Westin® and Holiday Inn®. Additional information can be found
on the Company’s Web site at www.felcor.com.
With the exception of historical information, the matters discussed
in this news release include “forward-looking statements” within the
meaning of the federal securities laws. Forward-looking statements are
not guarantees of future performance. Numerous risks and uncertainties,
and the occurrence of future events, may cause actual results to differ
materially from those currently anticipated. Certain of these risks and
uncertainties are described in greater detail in our filings with the
Securities and Exchange Commission. Although we believe our current
expectations to be based upon reasonable assumptions, we can give no
assurance that our expectations will be attained or that actual results
will not differ materially. We undertake no obligation to update any
forward-looking statement to conform the statement to actual results or
changes in our expectations.
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