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FelCor repurchases $40 million of 9% notes during fourth quarter 2010
By Toni Weeks
San Diego, Feb. 24 - FelCor Lodging Trust Inc. repurchased $40 million of 9% senior notes due June 2011 during the fourth quarter of 2010, according to the company's fourth-quarter results report.
The company used cash on hand for the repurchase. The company intends to repay the remaining $46 million of notes with cash on hand.
According to the report, the repurchase contributed $1.6 million to the company's $103.1 million net loss for 2010.
FelCor is an Irving, Texas-based real estate investment trust that owns upscale all-suite hotels.
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