WASHINGTON, DC— MeriStar Hospitality Corp.— owner of hotels under the Hilton, Marriott and other brands— has sold $155 million of seven-year convertible subordinated notes, according to sole lead manager Lehman Bros. The securities were reportedly sold with a coupon of 9.50%, and at a premium of 100% above Tuesday’s $5.09 closing price of the company’s shares on the New York Stock Exchange.
