FelCor buys back $23.5 million 10% notes

New York, April 28 - FelCor Lodging Trust Inc. said it bought back $23.5 million principal amount of its 10% senior notes due 2008 during April.

The purchases were made in the open market, the Irving, Texas hotel real estate investment trust said.

"Our balance sheet continues to improve and will provide FelCor with increased financial flexibility," said Andrew J. Welch, FelCor's senior vice president and treasurer, in a news release. "Through debt reduction and earnings improvement, we are on target to reduce the company's financial leverage this year. We are also pleased that we are on target in repositioning our portfolio."

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