DALLAS— The Meditrust Companies, which, as previously by HOTEL BUSINESS®, will soon change its name to La Quinta, has closed a $350 million credit facility, consisting of a $200 million revolving line of credit and a $150 million term loan. This bank debt has an initial interest rate of LIBOR plus 350 basis points and matures on May 31, 2003 with extensions available at the company’s option. Co-lead arrangers on the transaction were CIBC World Markets Corp. and Fleet Securities. Co-documentation agents on the transaction were Lehman Brothers and J.P. Morgan Chase & Co.
Previous ArticleLeisure Canada, SNC-Lavalin Develop Hotels In Cuba
Next Article Choice Enlists Mitel Networks