NEW YORK— Prime Hospitality Corp. intends to refinance its 9 3/4% senior subordinated notes due 2007 through a proposed offering of $200 million of senior subordinated notes due 2012, according to the company. In a statement, Prime said it plans to effect the refinancing by commencing a tender offer to purchase all of its outstanding 9 3/4% senior subordinated notes due 2007 at $1,050 per $1,000 principal amount of such notes. Tendering holders will be required to consent to certain changes to the covenants contained in the indenture under which whose notes were issued, and Prime currently plans to call for redemption any notes not tendered, the company said.
