FelCor buys $247.1 million of 9½% notes

New York, May 26 - FelCor Lodging Trust Inc. said it accepted and purchased $247.1 million principal amount of its 9½% senior notes due 2008.

The company said that through May 24 it had received tenders of $515.4 million or 89.9% of the notes. It accepted notes on a pro rata basis.

FelCor said on May 17 that its FelCor Lodging LP subsidiary had reduced the size of its tender offer for its 9½% senior notes to $275 million from $475 million.

The tender was made conditional on $175 million of the old notes being tendered, reduced from $350 million previously.

FelCor announced on May 11 that FelCor LP has started a tender offer for up to $475 million principal amount of its 9½% senior notes due 2008.

The 9½% notes are currently paying interest at 10%.

Holders who tender the 9½% notes by the early tender date of 5 p.m. ET on May 24 will receive $1,072.05 per $1,000 principal amount. The total includes an early tender premium of $20.00 per $1,000.

Holders who tender after the early tender date but before the expiration date of midnight ET on June 8 will receive $1,052.05 per $1,000 principal amount.

MacKenzie Partners Inc. is the information agent (call collect 212 929-5500 or 800 322-2885). Deutsche Bank Securities Inc. is dealer manager (212 250-4270).

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