Gaylord Entertainment to draw on existing facility for purchase of resort

By Sara Rosenberg

New York, Nov. 26 - Gaylord Entertainment Co. plans to use its existing line of credit to fund the $252.5 million acquisition of the Westin La Cantera Resort in San Antonio, Texas, according to a news release.

The deal is expected to close in the first quarter of 2008 pending satisfactory completion of due diligence and other customary closing conditions.

Gaylord Entertainment is a Nashville, Tenn., hospitality and entertainment company.

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