WASHINGTON, D.C.— MeriStar Hospitality Corp., the nations third largest hotel real estate investment trust (REIT), said it has completed the sale of $250 million senior, unsecured notes. Proceeds of the sale will be used to pay off Term Loans A and B, with the balance to be used to reduce the amount outstanding under the revolver to approximately $228 million. The notes, which have a coupon rate of 10.5%, mature in June 2009. Lehman Brothers Inc., Deutsche Banc Alex. Brown and S.G. Cowen were the joint lead managers for the sale.
Previous ArticleOutrigger Unveils Real Time Messaging On Websites
Next Article Sutton Place Selects SynXis Solution