CORAL GABLES, FL Hotelworks.com, a provider of goods and services to the global hospitality industry, has successfully negotiated and executed an amended and restated loan agreement with HSBC Bank USA. The previously defaulted line of credit in the amount of $9.885 million has been replaced by two debt instruments and $1 million of convertible preferred stock.
The HSBC agreement, combined with the previously announced refinancing with Bank of America in the amount of $6.8 million, brings all expired debt obligations current and in good standing. (12/20/00)