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Equity Inns to market $65 million seven-year bullet this week via Morgan Keegan
By Paul A. Harris
St. Louis, May 16 - Equity Inns Partnership LP (Equity Inns Inc.) plans to price a $65 million offering of seven-year senior unsecured notes (B1/B+) during the next five to seven business days, pending market conditions, according to an informed source.
A roadshow, if necessary, will take place late this week and early next week.
Morgan Keegan has the books for the Rule 144A/Regulation S offering.
The notes will be non-callable for life.
Proceeds will be used to reduce borrowings under the company's line of credit, to fund future acquisitions of hotel properties for and general corporate purposes.
Equity Inns Inc. is a Germantown, Tenn.-based real estate investment trust with interests in hotel properties.
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