FelCor Lodging Trust Incorporated FCH today announced that it has closed a new $225 million secured line of credit with a group of seven banks. J.P. Morgan and BofA Merrill Lynch acted as joint lead arrangers. J.P. Morgan is serving as administrative agent for the bank group.
The revolving line of credit bears interest of LIBOR plus 450 basis points and matures in August 2014.
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