Item 1.02 Termination of a Material Definitive Agreement.
On September 28, 2012, certain subsidiaries of FelCor Lodging Trust Incorporated
(the "Company") repaid a mortgage loan (the "Loan") and terminated the related
Loan Agreement, dated March 31, 2009, by and between FelCor/CSS (SPE), L.L.C.,
as borrower, The Prudential Insurance Company of America, as lender, and joined
by DJONT Operations, L.L.C.. The Loan was secured by a pool of seven hotels, had
an interest rate of 9.02%, and would otherwise have matured in 2014. The
then-outstanding principal balance repaid under the Loan was $107 million. As
discussed in Item 8.01 below, certain other subsidiaries of the Company also
entered into five separate loan agreements, each secured by a single hotel, with
three separate lenders, some of the loan proceeds from which were used to repay
the Loan. The remaining proceeds were used for general corporate purposes,
including repayment of other debt.
Item 8.01 Other Events.
On October 1, 2012, the Company issued a press release announcing that certain
of its subsidiaries had repaid the Loan and entered into the five single
asset-mortgage loans discussed above in Item 1.02. A copy of the press release
is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Exhibit
Press Release issued by FelCor Lodging Trust Incorporated on October
99.1 1, 2012.
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