FelCor calls $40 million 9½% notes

New York, Oct. 18 - FelCor Lodging Trust Inc. said its FelCor Lodging LP subsidiary will redeem $40 million principal amount of its 9½% senior notes due 2008 on Nov. 17. The notes are currently paying interest at 10%.

The Irving, Texas, hotel real estate investment trust will pay $1,047.50 per $1,000 principal amount.

Following the redemption there will be $56 million of the notes outstanding.

FelCor noted that on Oct. 14 it completed the sale of the Harvey Hotel in Irving, Texas, to the Procaccianti Group. Since June 30, FelCor has sold six hotels for gross proceeds of $70 million.

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